Barrett Business Services (NASDAQ:BBSI) Shares Pass Above Fifty Day Moving Average of $79.07

Barrett Business Services, Inc. (NASDAQ:BBSI) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $79.07 and traded as high as $85.93. Barrett Business Services shares last traded at $85.93, with a volume of 873 shares traded.

A number of brokerages have recently issued reports on BBSI. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.00.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day simple moving average of $79.07. The firm has a market cap of $634.52 million, a PE ratio of 17.20 and a beta of 0.88.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.50. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Barrett Business Services had a net margin of 4.80% and a return on equity of 42.37%. As a group, equities research analysts expect that Barrett Business Services, Inc. will post 5.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Barrett Business Services by 43.9% in the 4th quarter. Rhumbline Advisers now owns 9,804 shares of the business services provider’s stock worth $561,000 after purchasing an additional 2,993 shares during the last quarter. Citigroup Inc. raised its position in shares of Barrett Business Services by 13.4% in the 4th quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock worth $148,000 after purchasing an additional 307 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Barrett Business Services by 71.6% in the 4th quarter. Bessemer Group Inc. now owns 16,300 shares of the business services provider’s stock worth $933,000 after purchasing an additional 6,800 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Barrett Business Services in the 4th quarter worth about $207,000. Finally, United Services Automobile Association purchased a new position in shares of Barrett Business Services in the 4th quarter worth about $210,000. 82.58% of the stock is currently owned by institutional investors and hedge funds.

About Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

Further Reading: Outstanding Shares

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