Barrett Business Services (NASDAQ:BBSI) Given “Outperform” Rating at Barrington Research

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating restated by Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $141.00 target price on the business services provider’s stock. Barrington Research’s price objective would indicate a potential upside of 14.28% from the company’s current price.

Barrett Business Services Price Performance

BBSI stock traded up $3.89 during midday trading on Thursday, hitting $123.38. The stock had a trading volume of 44,487 shares, compared to its average volume of 30,263. The firm has a market cap of $806.91 million, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.07 and a beta of 1.37. The business has a 50-day moving average of $121.66 and a two-hundred day moving average of $113.20. Barrett Business Services has a 52-week low of $76.22 and a 52-week high of $130.00.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.29. Barrett Business Services had a return on equity of 26.72% and a net margin of 4.60%. The company had revenue of $265.78 million for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. Research analysts predict that Barrett Business Services will post 7.95 earnings per share for the current year.

Institutional Investors Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of BBSI. Bank of New York Mellon Corp lifted its holdings in shares of Barrett Business Services by 0.4% during 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 purchasing an additional 219 shares in the last quarter. AJOVista LLC bought a new position in shares of Barrett Business Services during the fourth quarter valued at $27,000. Bridge City Capital LLC lifted its holdings in shares of Barrett Business Services by 2.4% during the first quarter. Bridge City Capital LLC now owns 14,287 shares of the business services provider’s stock valued at $1,810,000 after purchasing an additional 332 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Barrett Business Services by 1.4% during the third quarter. LSV Asset Management now owns 28,373 shares of the business services provider’s stock valued at $2,560,000 after purchasing an additional 399 shares in the last quarter. Finally, Simplicity Solutions LLC lifted its holdings in shares of Barrett Business Services by 12.7% during the third quarter. Simplicity Solutions LLC now owns 3,964 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 447 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.