Barrett Business Services’ (BBSI) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $46.00 target price on the business services provider’s stock.

BBSI has been the subject of a number of other research reports. CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $46.00.

Barrett Business Services Stock Performance

BBSI opened at $37.46 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31. Barrett Business Services has a 12-month low of $33.01 and a 12-month high of $49.65. The firm has a 50 day moving average of $36.84 and a two-hundred day moving average of $41.15. The firm has a market capitalization of $959.73 million, a PE ratio of 18.01, a P/E/G ratio of 0.92 and a beta of 0.99.

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

Insiders Place Their Bets

In other Barrett Business Services news, Director Joseph Stephen Clabby purchased 1,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were bought at an average price of $34.83 per share, for a total transaction of $34,830.00. Following the completion of the transaction, the director owned 15,391 shares of the company’s stock, valued at $536,068.53. This trade represents a 6.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Tripletail Wealth Management LLC acquired a new stake in Barrett Business Services in the 3rd quarter valued at $34,000. Farther Finance Advisors LLC raised its position in Barrett Business Services by 1,388.3% during the third quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after acquiring an additional 833 shares during the period. AlphaQuest LLC purchased a new position in Barrett Business Services during the third quarter valued at $54,000. State of Alaska Department of Revenue acquired a new stake in shares of Barrett Business Services in the third quarter valued at about $66,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Barrett Business Services during the fourth quarter worth about $82,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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.