Barrett Business Services (NASDAQ:BBSI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Barrett Business Services has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling increased confidence among analysts.
• Despite the upgrade, the company's stock currently fell by 2.1%, opening at $48.14, with analysts having a consensus target price of $47.00.
• In their latest quarterly earnings, Barrett Business Services reported earnings of $0.70 EPS, surpassing expectations and reflecting a 10% revenue growth year-over-year.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday.

Separately, Barrington Research lifted their price target on Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Barrett Business Services currently has a consensus rating of "Buy" and a consensus price target of $47.00.

Barrett Business Services Price Performance

Barrett Business Services stock traded down $0.47 during midday trading on Friday, reaching $46.84. The company's stock had a trading volume of 175,773 shares, compared to its average volume of 151,871. Barrett Business Services has a fifty-two week low of $35.81 and a fifty-two week high of $49.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The stock's 50 day simple moving average is $46.06 and its 200 day simple moving average is $42.72. The firm has a market capitalization of $1.20 billion, a PE ratio of 23.07, a P/E/G ratio of 1.54 and a beta of 1.01.

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

Insider Transactions at Barrett Business Services

In other news, Director Thomas J. Carley sold 12,646 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $47.62, for a total transaction of $602,202.52. Following the completion of the sale, the director owned 94,692 shares in the company, valued at approximately $4,509,233.04. The trade was a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Kramer sold 80,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $48.35, for a total value of $3,868,000.00. Following the sale, the chief executive officer owned 287,040 shares of the company's stock, valued at $13,878,384. The trade was a 21.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,037 shares of company stock worth $5,185,368 over the last 90 days. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Barrett Business Services

Several hedge funds and other institutional investors have recently bought and sold shares of BBSI. Martingale Asset Management L P raised its position in shares of Barrett Business Services by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 38,213 shares of the business services provider's stock valued at $1,572,000 after acquiring an additional 242 shares in the last quarter. CWC Advisors LLC. grew its stake in Barrett Business Services by 2.5% during the 2nd quarter. CWC Advisors LLC. now owns 11,021 shares of the business services provider's stock worth $459,000 after buying an additional 268 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Barrett Business Services by 4.5% during the fourth quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider's stock valued at $300,000 after buying an additional 300 shares during the last quarter. Lakewood Asset Management LLC grew its stake in shares of Barrett Business Services by 2.9% in the second quarter. Lakewood Asset Management LLC now owns 10,912 shares of the business services provider's stock worth $455,000 after purchasing an additional 312 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its position in Barrett Business Services by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider's stock valued at $980,000 after buying an additional 332 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

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.