Barrett Business Services (NASDAQ:BBSI) Lifted to “Buy” at BidaskClub

Barrett Business Services (NASDAQ:BBSI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, December 18th, BidAskClub reports.

Several other equities analysts have also recently weighed in on BBSI. Barrington Research reiterated a “buy” rating and issued a $110.00 price objective on shares of Barrett Business Services in a research note on Tuesday, December 17th. ValuEngine cut shares of Barrett Business Services from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $109.00 target price on the stock in a research note on Friday, November 8th. 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 company currently has an average rating of “Hold” and a consensus price target of $116.33.

BBSI traded up $0.99 during midday trading on Wednesday, hitting $88.81. 42,303 shares of the company traded hands, compared to its average volume of 45,863. The company’s 50-day moving average is $89.27 and its 200 day moving average is $87.60. Barrett Business Services has a 52 week low of $57.39 and a 52 week high of $95.64. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $658.45 million, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $3.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.94. Barrett Business Services had a net margin of 5.72% and a return on equity of 39.84%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.55 billion. On average, sell-side analysts predict that Barrett Business Services will post 6.06 earnings per share for the current fiscal year.

In related news, VP Gary Kramer sold 486 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $88.27, for a total value of $42,899.22. Following the completion of the transaction, the vice president now directly owns 16,194 shares of the company’s stock, valued at $1,429,444.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael L. Elich sold 2,026 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.00, for a total transaction of $192,470.00. Following the completion of the transaction, the chief executive officer now directly owns 126,246 shares of the company’s stock, valued at $11,993,370. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,494 shares of company stock worth $1,490,148. 6.80% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in shares of Barrett Business Services by 63.7% during the second quarter. Bank of America Corp DE now owns 7,193 shares of the business services provider’s stock worth $594,000 after purchasing an additional 2,799 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Barrett Business Services by 167.6% during the third quarter. Meeder Asset Management Inc. now owns 958 shares of the business services provider’s stock worth $86,000 after purchasing an additional 600 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Barrett Business Services by 33.5% during the third quarter. Russell Investments Group Ltd. now owns 33,269 shares of the business services provider’s stock worth $2,954,000 after purchasing an additional 8,356 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Barrett Business Services by 14.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 99,000 shares of the business services provider’s stock worth $8,178,000 after purchasing an additional 12,515 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Barrett Business Services by 15.6% during the third quarter. California Public Employees Retirement System now owns 35,109 shares of the business services provider’s stock worth $3,118,000 after purchasing an additional 4,745 shares during the last quarter. 82.03% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile

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.

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