Roth Mkm Issues Pessimistic Forecast for Barrett Business Services (NASDAQ:BBSI) Stock Price

Barrett Business Services (NASDAQ:BBSIGet Free Report) had its target price decreased by investment analysts at Roth Mkm from $54.00 to $42.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Roth Mkm’s price target indicates a potential upside of 58.82% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Barrington Research reissued an “outperform” rating and set a $46.00 price target on shares of Barrett Business Services in a research note on Thursday, February 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $44.00.

Check Out Our Latest Stock Analysis on Barrett Business Services

Barrett Business Services Price Performance

NASDAQ:BBSI traded down $5.03 during trading hours on Thursday, hitting $26.45. The company’s stock had a trading volume of 475,644 shares, compared to its average volume of 189,917. Barrett Business Services has a 52-week low of $25.33 and a 52-week 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 moving average is $36.13 and its two-hundred day moving average is $39.86. The company has a market capitalization of $677.52 million, a PE ratio of 12.71, a PEG ratio of 0.77 and a beta of 0.99.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $323.43 million. Barrett Business Services had a net margin of 4.48% and a return on equity of 24.36%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. As a group, research analysts anticipate that Barrett Business Services will post 2 EPS for the current fiscal year.

Institutional Trading of Barrett Business Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mawer Investment Management Ltd. raised its stake in Barrett Business Services by 0.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider’s stock valued at $71,118,000 after purchasing an additional 13,331 shares during the last quarter. Thrivent Financial for Lutherans raised its position 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 valued at $84,271,000 after buying an additional 324,715 shares during the last quarter. Private Capital Management LLC lifted its stake in shares of Barrett Business Services by 1.2% during the fourth quarter. Private Capital Management LLC now owns 999,371 shares of the business services provider’s stock valued at $36,187,000 after buying an additional 12,117 shares during the period. Royce & Associates LP lifted its stake in shares of Barrett Business Services by 31.6% during the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock valued at $31,534,000 after buying an additional 208,865 shares during the period. Finally, Wellington Management Group LLP boosted its position in Barrett Business Services by 15.3% during the fourth quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock worth $29,749,000 after acquiring an additional 109,069 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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About Barrett Business Services

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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.

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