Barrett Business Services (NASDAQ:BBSI) Raised to Strong-Buy at StockNews.com

Barrett Business Services (NASDAQ:BBSI) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Separately, Barrington Research reaffirmed an “outperform” rating and set a $45.00 price target on shares of Barrett Business Services in a report on Tuesday.

Barrett Business Services Trading Up 0.1 %

Shares of NASDAQ BBSI opened at $40.45 on Thursday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. The stock’s 50 day simple moving average is $40.35 and its 200 day simple moving average is $41.39. Barrett Business Services has a 12-month low of $30.68 and a 12-month high of $44.97.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. Barrett Business Services had a net margin of 4.55% and a return on equity of 25.28%. The company had revenue of $292.60 million during the quarter, compared to the consensus estimate of $285.91 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Barrett Business Services will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA bought a new position in Barrett Business Services during the 1st quarter valued at $33,000. Prudent Man Investment Management Inc. acquired a new position in Barrett Business Services during the fourth quarter worth about $35,000. PNC Financial Services Group Inc. grew its holdings in Barrett Business Services by 26.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider’s stock worth $95,000 after acquiring an additional 482 shares during the period. Perkins Coie Trust Co raised its position in Barrett Business Services by 10.0% in the first quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider’s stock worth $181,000 after acquiring an additional 400 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Barrett Business Services by 3,939.3% in the 1st quarter. US Bancorp DE now owns 4,524 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 4,412 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.