Barrett Business Services (NASDAQ:BBSI) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, October 2nd, ValuEngine reports.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Barrett Business Services from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, August 9th. Roth Capital boosted their price objective on Barrett Business Services from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, BidaskClub raised Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 19th.
Shares of NASDAQ:BBSI opened at $84.32 on Wednesday. Barrett Business Services has a fifty-two week low of $53.10 and a fifty-two week high of $91.92. The business has a 50-day moving average of $87.23 and a two-hundred day moving average of $81.92. The stock has a market capitalization of $636.80 million, a P/E ratio of 13.73 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. Barrett Business Services had a return on equity of 39.94% and a net margin of 5.09%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, research analysts expect that Barrett Business Services will post 5.53 EPS for the current fiscal year.
In related news, Director Thomas J. Carley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $88.25, for a total transaction of $264,750.00. Following the completion of the transaction, the director now owns 24,989 shares of the company’s stock, valued at approximately $2,205,279.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James B. Hicks sold 2,176 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.20, for a total value of $185,395.20. Following the transaction, the director now owns 17,618 shares in the company, valued at $1,501,053.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,376 shares of company stock valued at $467,317 in the last three months. 6.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in Barrett Business Services during the second quarter valued at about $50,000. Royal Bank of Canada grew its stake in shares of Barrett Business Services by 9.8% in the 2nd quarter. Royal Bank of Canada now owns 22,009 shares of the business services provider’s stock valued at $1,818,000 after purchasing an additional 1,970 shares during the period. United Services Automobile Association grew its stake in shares of Barrett Business Services by 7.7% in the 2nd quarter. United Services Automobile Association now owns 4,253 shares of the business services provider’s stock valued at $351,000 after purchasing an additional 303 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Barrett Business Services in the 2nd quarter valued at approximately $224,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of Barrett Business Services in the 2nd quarter valued at approximately $4,718,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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