Zacks Investment Research upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $95.00 target price on the business services provider’s stock.

According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “

Separately, BidaskClub raised shares of Westport Fuel Systems from a hold rating to a buy rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $99.67.

NASDAQ:BBSI opened at $85.39 on Wednesday. The stock has a 50-day moving average of $80.97. Barrett Business Services has a 12 month low of $53.10 and a 12 month high of $98.53. 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 market cap of $633.91 million, a PE ratio of 14.60 and a beta of 0.88.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in Barrett Business Services by 29.1% during the 4th quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 304 shares during the period. BNP Paribas Arbitrage SA lifted its position in Barrett Business Services by 49,366.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 1,481 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Barrett Business Services by 393.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,321 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 1,851 shares during the period. Citigroup Inc. lifted its position in Barrett Business Services by 13.4% during the 4th quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock valued at $148,000 after acquiring an additional 307 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Barrett Business Services during the 1st quarter valued at about $228,000. 82.66% of the stock is owned by 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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