Barrett Business Services (NASDAQ:BBSI) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note published on Tuesday morning, Benzinga reports. Barrington Research currently has a $41.00 price objective on the business services provider’s stock.

Separately, Roth Mkm increased their target price on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

Barrett Business Services Price Performance

Shares of Barrett Business Services stock opened at $37.21 on Tuesday. Barrett Business Services has a 1 year low of $21.95 and a 1 year high of $38.07. The firm has a market cap of $973.67 million, a price-to-earnings ratio of 20.45, a PEG ratio of 1.24 and a beta of 1.38. The company has a 50-day moving average of $36.47 and a 200 day moving average of $34.10.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The firm had revenue of $279.60 million during the quarter, compared to analyst estimates of $273.13 million. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Barrett Business Services will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 34,288 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares of the company’s stock, valued at $8,501,132.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 35,133 shares of company stock valued at $1,231,357. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds have recently bought and sold shares of the business. CWM LLC grew its stake in shares of Barrett Business Services by 12,014.3% in the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after acquiring an additional 841 shares during the period. Amalgamated Bank boosted its holdings in Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares during the last quarter. USA Financial Formulas bought a new stake in Barrett Business Services in the 3rd quarter worth approximately $60,000. Nisa Investment Advisors LLC raised its stake in Barrett Business Services by 415.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock valued at $95,000 after buying an additional 2,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Barrett Business Services by 300.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock valued at $107,000 after buying an additional 2,460 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

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.