Barrett Business Services’ (BBSI) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research report report published on Thursday morning,Benzinga reports. Barrington Research currently has a $46.00 price target on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. CJS Securities raised shares of Barrett Business Services to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen lowered shares of Barrett Business Services from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Barrett Business Services has a consensus rating of “Buy” and a consensus target price of $46.00.

Barrett Business Services Trading Down 0.4%

NASDAQ:BBSI opened at $32.58 on Thursday. The stock has a market cap of $834.70 million, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. Barrett Business Services has a one year low of $30.74 and a one year high of $49.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.27 and a current ratio of 1.27. The business’s 50-day simple moving average is $36.55 and its 200 day simple moving average is $40.29.

Institutional Trading of Barrett Business Services

A number of institutional investors and hedge funds have recently modified their holdings of BBSI. Trigran Investments Inc. bought a new position in Barrett Business Services in the 2nd quarter worth approximately $7,531,000. Envestnet Asset Management Inc. acquired a new position in Barrett Business Services during the 2nd quarter worth $454,000. Thrivent Financial for Lutherans grew its stake in shares of Barrett Business Services by 20.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider’s stock worth $84,271,000 after purchasing an additional 324,715 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Barrett Business Services by 1,176.9% during the third quarter. Assenagon Asset Management S.A. now owns 123,742 shares of the business services provider’s stock valued at $5,484,000 after purchasing an additional 114,051 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Barrett Business Services by 141.7% during the second quarter. SG Americas Securities LLC now owns 29,201 shares of the business services provider’s stock valued at $1,217,000 after purchasing an additional 17,117 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Barrett Business Services Company Profile

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.