Barrington Research Reaffirms “Outperform” Rating for Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research report issued on Monday, Benzinga reports. They presently have a $141.00 price target on the business services provider’s stock. Barrington Research’s price objective indicates a potential upside of 14.20% from the stock’s previous close.

Barrett Business Services Stock Performance

NASDAQ:BBSI opened at $123.47 on Monday. The stock has a 50-day simple moving average of $119.88 and a 200 day simple moving average of $111.66. Barrett Business Services has a 52-week low of $76.22 and a 52-week high of $130.00. The company has a market cap of $807.00 million, a PE ratio of 16.62, a PEG ratio of 1.12 and a beta of 1.35.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.87 by $0.29. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.02 billion. On average, research analysts predict that Barrett Business Services will post 7.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Simplicity Solutions LLC lifted its position in shares of Barrett Business Services by 12.7% in the third quarter. Simplicity Solutions LLC now owns 3,964 shares of the business services provider’s stock valued at $358,000 after buying an additional 447 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Barrett Business Services by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 53,936 shares of the business services provider’s stock valued at $4,867,000 after buying an additional 219 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of Barrett Business Services in the third quarter valued at approximately $262,000. Inspire Advisors LLC acquired a new stake in shares of Barrett Business Services in the third quarter valued at approximately $677,000. Finally, Principal Financial Group Inc. lifted its position in shares of Barrett Business Services by 31.9% in the third quarter. Principal Financial Group Inc. now owns 3,086 shares of the business services provider’s stock valued at $278,000 after buying an additional 746 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Company Profile

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.