Barrington Research Boosts Barrett Business Services (NASDAQ:BBSI) Price Target to $45.00

Barrett Business Services (NASDAQ:BBSI) had its price objective boosted by analysts at Barrington Research from $41.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price target would indicate a potential upside of 12.28% from the stock’s previous close.

Separately, Roth Mkm increased their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI traded down $0.29 during trading on Thursday, reaching $40.08. The stock had a trading volume of 102,606 shares, compared to its average volume of 135,116. Barrett Business Services has a 52 week low of $25.09 and a 52 week high of $41.18. The firm’s fifty day moving average is $36.71 and its 200 day moving average is $34.42. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.22 and a beta of 1.39.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.11 billion. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. On average, research analysts forecast that Barrett Business Services will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Barrett Business Services

In related news, CEO Gary Kramer sold 34,288 shares of Barrett Business Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares of the company’s stock, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management grew its stake in shares of Barrett Business Services by 0.3% in the first quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after buying an additional 100 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Barrett Business Services by 1.5% in the 3rd quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock valued at $917,000 after buying an additional 352 shares during the period. Perkins Coie Trust Co boosted its position in shares of Barrett Business Services by 11.1% during the 3rd quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock worth $150,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Financial Markets grew its position in Barrett Business Services by 10.3% during the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after buying an additional 509 shares during the period. Finally, Amalgamated Bank increased its stake in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 86.76% 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. 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.