Zacks Research Upgrades Barrett Business Services (NASDAQ:BBSI) to Hold

by · The Cerbat Gem

Barrett Business Services (NASDAQ:BBSI – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities research analysts have also weighed in on the stock. Barrington Research set a $44.00 price objective on shares of Barrett Business Services in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Roth Capital lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $38.00 in a research report on Thursday, August 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Barrett Business Services in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrett Business Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Check Out Our Latest Research Report on BBSI

Barrett Business Services Stock Up 0.2%

Shares of Barrett Business Services stock opened at $31.28 on Monday. The stock’s fifty day moving average is $33.60 and its two-hundred day moving average is $33.09. Barrett Business Services has a 52 week low of $25.33 and a 52 week high of $45.53. The company has a market capitalization of $758.07 million, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94.

Barrett Business Services (NASDAQ:BBSI – Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.04). The business had revenue of $319.27 million for the quarter, compared to the consensus estimate of $321.55 million. Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%. As a group, research analysts anticipate that Barrett Business Services will post 1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Barrett Business Services in the 2nd quarter valued at about $26,000. Bard Associates Inc. bought a new position in shares of Barrett Business Services during the fourth quarter valued at approximately $50,000. GAMMA Investing LLC increased its holdings in Barrett Business Services by 131.0% during the second quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock valued at $78,000 after buying an additional 1,251 shares during the period. Fifth Third Bancorp increased its holdings in Barrett Business Services by 772.6% during the first quarter. Fifth Third Bancorp now owns 3,953 shares of the business services provider’s stock valued at $115,000 after buying an additional 3,500 shares during the period. Finally, State of Wyoming bought a new position in Barrett Business Services in the second quarter worth approximately $157,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company Profile

(Get Free Report)

Barrett Business Services, Inc (NASDAQ:BBSI) is a provider of business management and workforce solutions for small and midsize businesses in the United States. The company combines professional employer organization (PEO) services with staffing and management consulting to help clients manage employment-related responsibilities and day-to-day operations.

Its services include payroll administration, human resources support, employee benefits administration, risk management, workers’ compensation management, and regulatory compliance assistance.

Further Reading