Barrington Research Reaffirms "Outperform" Rating for Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services (NASDAQ:BBSI - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Barrington Research in a note issued to investors on Monday, Benzinga reports. They currently have a $141.00 target price on the business services provider's stock. Barrington Research's price objective suggests a potential upside of 14.81% from the stock's previous close.

Barrett Business Services Stock Up 0.4 %

BBSI stock traded up $0.46 during trading on Monday, reaching $122.81. The company's stock had a trading volume of 37,547 shares, compared to its average volume of 30,117. The company's fifty day moving average is $119.71 and its 200-day moving average is $111.45. The company has a market capitalization of $803.18 million, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. Barrett Business Services has a 1 year low of $76.22 and a 1 year high of $130.00.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.29. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrett Business Services had a return on equity of 27.69% and a net margin of 4.73%. Analysts anticipate that Barrett Business Services will post 7.78 earnings per share for the current year.

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of Barrett Business Services by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 53,936 shares of the business services provider's stock worth $4,867,000 after buying an additional 219 shares in the last quarter. AJOVista LLC purchased a new position in Barrett Business Services during the 4th quarter valued at about $27,000. Bridge City Capital LLC raised its holdings in shares of Barrett Business Services by 2.4% in the 1st quarter. Bridge City Capital LLC now owns 14,287 shares of the business services provider's stock valued at $1,810,000 after purchasing an additional 332 shares in the last quarter. LSV Asset Management lifted its position in shares of Barrett Business Services by 1.4% in the 3rd quarter. LSV Asset Management now owns 28,373 shares of the business services provider's stock worth $2,560,000 after purchasing an additional 399 shares during the period. Finally, Simplicity Solutions LLC increased its holdings in Barrett Business Services by 12.7% during the third quarter. Simplicity Solutions LLC now owns 3,964 shares of the business services provider's stock valued at $358,000 after buying an additional 447 shares during the period. 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.