Roth Mkm Lowers Barrett Business Services (NASDAQ:BBSI) Price Target to $42.00

Barrett Business Services (NASDAQ:BBSIGet Free Report) had its price objective dropped by investment analysts at Roth Mkm from $54.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Roth Mkm’s target price would suggest a potential upside of 58.82% from the company’s previous close.

BBSI has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a report on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Barrett Business Services in a research note on Thursday, February 19th. Finally, CJS Securities upgraded shares of Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.00.

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Barrett Business Services Trading Down 16.0%

NASDAQ:BBSI traded down $5.03 during mid-day trading on Thursday, reaching $26.45. The company’s stock had a trading volume of 475,644 shares, compared to its average volume of 189,917. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $677.52 million, a P/E ratio of 12.71, a P/E/G ratio of 0.77 and a beta of 0.99. The company’s fifty day simple moving average is $36.13 and its two-hundred day simple moving average is $39.86. Barrett Business Services has a twelve month low of $25.33 and a twelve month high of $49.65.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. Barrett Business Services had a net margin of 4.48% and a return on equity of 24.36%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Barrett Business Services will post 2 EPS for the current year.

Institutional Trading of Barrett Business Services

Several large investors have recently modified their holdings of the business. Tripletail Wealth Management LLC acquired a new position in shares of Barrett Business Services in the third quarter worth about $34,000. Farther Finance Advisors LLC raised its position in shares of Barrett Business Services by 1,388.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 833 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Barrett Business Services during the 4th quarter valued at approximately $39,000. AlphaQuest LLC acquired a new stake in shares of Barrett Business Services during the third quarter worth approximately $54,000. Finally, Bard Associates Inc. bought a new stake in shares of Barrett Business Services in the fourth quarter worth $50,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Key Barrett Business Services News

Here are the key news stories impacting Barrett Business Services this week:

About Barrett Business Services

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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.

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