Barrington Research Reiterates Outperform Rating for Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reiterated by equities research analysts at Barrington Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $46.00 target price on the business services provider’s stock. Barrington Research’s target price would suggest a potential upside of 23.42% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a report on Monday, December 29th. Wall Street Zen cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $46.00.

Barrett Business Services Trading Up 2.4%

NASDAQ:BBSI traded up $0.88 during mid-day trading on Monday, reaching $37.27. The company’s stock had a trading volume of 35,248 shares, compared to its average volume of 84,552. Barrett Business Services has a twelve month low of $33.01 and a twelve month high of $49.65. The company’s fifty day simple moving average is $36.37 and its two-hundred day simple moving average is $41.89. The stock has a market cap of $955.04 million, a P/E ratio of 17.92, a P/E/G ratio of 1.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.27.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). Barrett Business Services had a return on equity of 24.36% and a net margin of 4.48%.The company had revenue of $318.95 million for the quarter, compared to analysts’ expectations of $319.27 million. During the same period in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts predict that Barrett Business Services will post 2 EPS for the current year.

Insider Transactions at Barrett Business Services

In other news, Director Joseph Stephen Clabby bought 1,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price of $34.83 per share, for a total transaction of $34,830.00. Following the transaction, the director owned 15,391 shares in the company, valued at approximately $536,068.53. This trade represents a 6.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CWC Advisors LLC. lifted its stake in Barrett Business Services by 2.5% during the second quarter. CWC Advisors LLC. now owns 11,021 shares of the business services provider’s stock valued at $459,000 after buying an additional 268 shares in the last quarter. Lakewood Asset Management LLC boosted its stake in Barrett Business Services by 2.9% in the 2nd quarter. Lakewood Asset Management LLC now owns 10,912 shares of the business services provider’s stock worth $455,000 after purchasing an additional 312 shares during the period. SummerHaven Investment Management LLC grew its position in Barrett Business Services by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,182 shares of the business services provider’s stock worth $1,008,000 after purchasing an additional 355 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Barrett Business Services by 1.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 45,971 shares of the business services provider’s stock worth $2,037,000 after purchasing an additional 477 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Barrett Business Services by 2.9% during the 2nd quarter. Hsbc Holdings PLC now owns 17,036 shares of the business services provider’s stock valued at $709,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.