Barrett Business Services (NASDAQ:BBSI) Stock Rating Upgraded by Zacks Investment Research


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

According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “

A number of other research firms have also recently weighed in on BBSI. TheStreet cut shares of Barrett Business Services from a “b-” rating to a “c+” rating in a research note on Monday, April 5th. Roth Capital reissued a “buy” rating on shares of Barrett Business Services in a research note on Thursday, March 4th. Finally, Barrington Research upped their target price on shares of Barrett Business Services from $78.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, March 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Barrett Business Services has a consensus rating of “Buy” and an average target price of $81.75.

Shares of NASDAQ:BBSI traded down $0.92 on Tuesday, hitting $75.51. 25,572 shares of the company were exchanged, compared to its average volume of 36,625. The company’s 50 day moving average price is $70.78 and its two-hundred day moving average price is $68.88. Barrett Business Services has a one year low of $38.13 and a one year high of $77.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $570.40 million, a price-to-earnings ratio of 15.19, a PEG ratio of 1.20 and a beta of 1.47.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Tuesday, March 2nd. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.28. Barrett Business Services had a net margin of 4.29% and a return on equity of 21.58%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.53 billion. Research analysts predict that Barrett Business Services will post 4.15 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Barrett Business Services in the fourth quarter valued at about $36,000. SG Americas Securities LLC acquired a new position in shares of Barrett Business Services during the fourth quarter worth approximately $114,000. GSA Capital Partners LLP acquired a new position in shares of Barrett Business Services during the fourth quarter worth approximately $210,000. Falcon Point Capital LLC acquired a new position in shares of Barrett Business Services during the fourth quarter worth approximately $231,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Barrett Business Services during the fourth quarter worth approximately $249,000. Hedge funds and other institutional investors own 79.03% 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.

Further Reading: Intrinsic Value and Stock Selection

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