Barrett Business Services (NASDAQ:BBSI) Stock Rating Reaffirmed by Barrington Research

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $141.00 price target on the business services provider’s stock. Barrington Research’s target price suggests a potential upside of 14.28% from the company’s previous close.

Barrett Business Services Price Performance

NASDAQ BBSI traded up $3.89 on Thursday, hitting $123.38. 44,487 shares of the stock were exchanged, compared to its average volume of 30,263. The business’s fifty day moving average is $121.66 and its 200 day moving average is $113.20. Barrett Business Services has a 52 week low of $76.22 and a 52 week high of $130.00. The company has a market capitalization of $806.91 million, a PE ratio of 16.92, a P/E/G ratio of 1.07 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.29. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.72%. The firm had revenue of $265.78 million for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company earned $0.12 earnings per share. Analysts predict that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently modified their holdings of BBSI. AJOVista LLC acquired a new position in shares of Barrett Business Services in the fourth quarter valued at about $27,000. Ramirez Asset Management Inc. acquired a new position in shares of Barrett Business Services in the third quarter valued at about $45,000. CWM LLC grew its stake in shares of Barrett Business Services by 120,000.0% in the fourth quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,200 shares in the last quarter. Gladius Capital Management LP grew its stake in shares of Barrett Business Services by 82.2% in the third quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after acquiring an additional 889 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Barrett Business Services in the fourth quarter valued at about $218,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Company Profile

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.