Barrett Business Services (NASDAQ:BBSI) Rating Increased to Strong-Buy at BidaskClub

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Barrett Business Services (NASDAQ:BBSI) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other research analysts have also recently weighed in on BBSI. Roth Capital lifted their price objective on shares of Barrett Business Services from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $108.33.

Shares of BBSI opened at $87.73 on Tuesday. Barrett Business Services has a 1-year low of $53.10 and a 1-year high of $91.92. The firm has a market capitalization of $675.57 million, a PE ratio of 17.62 and a beta of 0.95. The company’s 50-day moving average is $85.48. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.12. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Barrett Business Services had a net margin of 5.09% and a return on equity of 39.94%. Equities analysts forecast that Barrett Business Services will post 5.53 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Barrett Business Services by 2.1% during the 2nd quarter. BlackRock Inc. now owns 499,954 shares of the business services provider’s stock worth $41,296,000 after acquiring an additional 10,148 shares in the last quarter. Vanguard Group Inc. raised its position in Barrett Business Services by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 443,541 shares of the business services provider’s stock valued at $36,636,000 after purchasing an additional 7,064 shares during the last quarter. FMR LLC raised its position in Barrett Business Services by 13.7% in the 1st quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock valued at $13,411,000 after purchasing an additional 20,901 shares during the last quarter. Northern Trust Corp raised its position in Barrett Business Services by 0.6% in the 2nd quarter. Northern Trust Corp now owns 173,046 shares of the business services provider’s stock valued at $14,293,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in Barrett Business Services by 14.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 127,142 shares of the business services provider’s stock valued at $9,832,000 after purchasing an additional 15,993 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

About Barrett Business Services

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.

See Also: Buy Rating

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