StockNews.com Lowers Barrett Business Services (NASDAQ:BBSI) to Buy

Barrett Business Services (NASDAQ:BBSI) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Separately, Barrington Research reissued an “outperform” rating and set a $141.00 price objective on shares of Barrett Business Services in a research note on Thursday, May 2nd.

Barrett Business Services Trading Up 1.6 %

NASDAQ BBSI opened at $125.93 on Friday. Barrett Business Services has a 12 month low of $78.79 and a 12 month high of $130.00. The stock’s 50 day moving average is $122.21 and its 200 day moving average is $114.11. The stock has a market cap of $823.83 million, a PE ratio of 17.27, a P/E/G ratio of 1.11 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.29. Barrett Business Services had a return on equity of 26.58% and a net margin of 4.60%. The company had revenue of $265.78 million during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $0.12 earnings per share. On average, analysts forecast that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Barrett Business Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in Barrett Business Services by 121.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock valued at $5,814,000 after acquiring an additional 25,165 shares during the period. Wellington Management Group LLP boosted its stake in shares of Barrett Business Services by 10.8% during the fourth quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after purchasing an additional 18,897 shares during the period. FMR LLC grew its holdings in shares of Barrett Business Services by 4.3% in the third quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after purchasing an additional 12,997 shares during the last quarter. Willner & Heller LLC purchased a new position in Barrett Business Services in the 4th quarter worth about $1,121,000. Finally, Quadrature Capital Ltd bought a new stake in Barrett Business Services during the 4th quarter valued at about $693,000. 86.76% of the stock is currently 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.