Barrett Business Services' (BBSI) "Outperform" Rating Reiterated at Barrington Research

Key Points

• Barrett Business Services' stock retains an "outperform" rating from Barrington Research, with a price target of $49.00, indicating a potential upside of 17.01%.
• The company reported a 10% year-over-year revenue increase of $307.70 million, exceeding analysts' expectations, and an EPS of $0.70, beating the consensus estimate by $0.05.
• Insider trading activity includes CEO Gary Kramer selling 80,000 shares for approximately $3.87 million, representing a 21.80% decrease in his ownership stake.

Barrett Business Services (NASDAQ:BBSI - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Barrington Research in a research note issued on Tuesday,Benzinga reports. They presently have a $49.00 price objective on the business services provider's stock. Barrington Research's price objective suggests a potential upside of 17.01% from the company's previous close.

Several other analysts also recently commented on BBSI. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrett Business Services in a report on Tuesday, October 14th. Wall Street Zen upgraded shares of Barrett Business Services from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $47.00.

Barrett Business Services Stock Up 0.5%

BBSI traded up $0.20 during trading on Tuesday, hitting $41.88. 55,368 shares of the company's stock were exchanged, compared to its average volume of 146,095. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35. The business's 50 day moving average is $45.97 and its two-hundred day moving average is $43.48. Barrett Business Services has a fifty-two week low of $35.81 and a fifty-two week high of $49.65. The stock has a market cap of $1.08 billion, a P/E ratio of 20.63, a PEG ratio of 1.36 and a beta of 0.96.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $307.70 million during the quarter, compared to the consensus estimate of $299.95 million. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts expect that Barrett Business Services will post 2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gary Kramer sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $48.35, for a total value of $3,868,000.00. Following the completion of the transaction, the chief executive officer directly owned 287,040 shares in the company, valued at approximately $13,878,384. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Carley sold 12,646 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $47.62, for a total transaction of $602,202.52. Following the completion of the transaction, the director owned 94,692 shares of the company's stock, valued at $4,509,233.04. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,438 shares of company stock valued at $5,296,983. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Barrett Business Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GW&K Investment Management LLC raised its stake in Barrett Business Services by 2.1% in the first quarter. GW&K Investment Management LLC now owns 528,243 shares of the business services provider's stock valued at $21,737,000 after purchasing an additional 10,627 shares in the last quarter. Riverbridge Partners LLC purchased a new stake in Barrett Business Services in the second quarter valued at approximately $14,792,000. Nuveen LLC purchased a new position in shares of Barrett Business Services during the first quarter worth approximately $12,999,000. Russell Investments Group Ltd. raised its stake in shares of Barrett Business Services by 12.0% during the first quarter. Russell Investments Group Ltd. now owns 187,629 shares of the business services provider's stock worth $7,721,000 after acquiring an additional 20,169 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Barrett Business Services by 22.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 184,662 shares of the business services provider's stock worth $7,599,000 after acquiring an additional 34,297 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.