Barrett Business Services (NASDAQ:BBSI) Raised to Hold at Zacks Research

Barrett Business Services (NASDAQ:BBSI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Barrett Business Services in a research note on Monday. Finally, Roth Mkm reduced their price objective on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Barrett Business Services Trading Down 0.1%

BBSI traded down $0.04 during trading on Tuesday, hitting $31.53. The company’s stock had a trading volume of 16,256 shares, compared to its average volume of 234,655. Barrett Business Services has a twelve month low of $25.33 and a twelve month high of $49.65. The business’s fifty day simple moving average is $29.26 and its 200 day simple moving average is $34.37. The firm has a market capitalization of $774.43 million, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.09 and a beta of 0.99.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. During the same period last year, the company earned $0.63 earnings per share. Barrett Business Services’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Barrett Business Services will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Barrett Business Services

In related news, EVP James R. Potts sold 1,803 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $28.68, for a total value of $51,710.04. Following the completion of the sale, the executive vice president owned 33,837 shares in the company, valued at approximately $970,445.16. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary Kramer bought 8,370 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $26.89 per share, with a total value of $225,069.30. Following the acquisition, the chief executive officer directly owned 328,801 shares in the company, valued at $8,841,458.89. The trade was a 2.61% increase in their position. The SEC filing for this purchase provides additional information. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Barrett Business Services

Institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Barrett Business Services during the fourth quarter worth $39,000. Farther Finance Advisors LLC increased its holdings in Barrett Business Services by 1,388.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after purchasing an additional 833 shares during the period. Bard Associates Inc. purchased a new stake in Barrett Business Services during the 4th quarter worth about $50,000. AlphaQuest LLC purchased a new stake in Barrett Business Services during the 3rd quarter worth about $54,000. Finally, State of Alaska Department of Revenue purchased a new stake in Barrett Business Services during the 3rd quarter worth about $66,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Barrett Business Services

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.