Barrett Business Services (NASDAQ:BBSI – Get Free Report) had its price objective increased by Barrington Research from $115.00 to $141.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective suggests a potential upside of 24.56% from the company’s current price.
Separately, StockNews.com cut Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Monday, November 20th.
Check Out Our Latest Report on BBSI
Barrett Business Services Stock Down 1.6 %
BBSI traded down $1.80 during midday trading on Wednesday, hitting $113.20. 12,951 shares of the company’s stock traded hands, compared to its average volume of 20,431. The company has a market cap of $749.38 million, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.37. The stock’s fifty day simple moving average is $107.73 and its 200-day simple moving average is $97.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.25 and a quick ratio of 1.25. Barrett Business Services has a one year low of $76.22 and a one year high of $119.39.
Barrett Business Services (NASDAQ:BBSI – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.68 EPS for the quarter, beating the consensus estimate of $2.40 by $0.28. Barrett Business Services had a return on equity of 26.82% and a net margin of 4.47%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2 billion. As a group, equities analysts anticipate that Barrett Business Services will post 7.1 earnings per share for the current fiscal year.
Insider Transactions at Barrett Business Services
In other news, Director Joseph Stephen Clabby acquired 290 shares of Barrett Business Services stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $103.05 per share, with a total value of $29,884.50. Following the completion of the purchase, the director now owns 1,277 shares of the company’s stock, valued at approximately $131,594.85. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Barrett Business Services
Several hedge funds have recently made changes to their positions in BBSI. Gladius Capital Management LP lifted its holdings in Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock worth $178,000 after buying an additional 889 shares during the period. Wellington Management Group LLP lifted its stake in shares of Barrett Business Services by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 175,006 shares of the business services provider’s stock valued at $15,793,000 after purchasing an additional 3,000 shares during the period. Deutsche Bank AG lifted its stake in shares of Barrett Business Services by 7.4% in the 3rd quarter. Deutsche Bank AG now owns 4,283 shares of the business services provider’s stock valued at $386,000 after purchasing an additional 296 shares during the period. Comerica Bank purchased a new position in shares of Barrett Business Services in the 3rd quarter valued at approximately $45,000. Finally, Ramirez Asset Management Inc. purchased a new position in shares of Barrett Business Services in the 3rd quarter valued at approximately $45,000. 85.91% of the stock is currently owned by hedge funds and other institutional investors.
About Barrett Business Services
(Get Free Report)
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.
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