Barrington Research Reaffirms “Outperform” Rating for Barrett Business Services (NASDAQ:BBSI)

Barrington Research restated their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a report released on Tuesday, Benzinga reports. The firm currently has a $41.00 target price on the business services provider’s stock.

Separately, Roth Mkm lifted their price target on shares of Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Barrett Business Services Stock Performance

NASDAQ BBSI opened at $37.21 on Tuesday. The business’s fifty day moving average is $36.47 and its 200 day moving average is $34.10. Barrett Business Services has a fifty-two week low of $21.95 and a fifty-two week high of $38.07. The company has a market capitalization of $973.67 million, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.24 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $279.60 million for the quarter, compared to analysts’ expectations of $273.13 million. Barrett Business Services had a return on equity of 25.69% and a net margin of 4.50%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, sell-side analysts forecast that Barrett Business Services will post 1.99 EPS for the current year.

Insider Transactions at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of Barrett Business Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 35,133 shares of company stock valued at $1,231,357 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors have recently bought and sold shares of BBSI. CWM LLC boosted its holdings in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares during the last quarter. Amalgamated Bank lifted its position in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Barrett Business Services in the third quarter worth about $60,000. Virtu Financial LLC bought a new position in Barrett Business Services during the first quarter valued at approximately $227,000. Finally, Aristides Capital LLC purchased a new position in Barrett Business Services during the 1st quarter valued at approximately $277,000. 86.76% of the stock is owned by hedge funds and other 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.