Barrett Business Services (NASDAQ:BBSI) Stock Rating Upgraded by StockNews.com

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

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

Barrett Business Services Stock Up 0.2 %

Barrett Business Services stock opened at $125.55 on Friday. Barrett Business Services has a 52 week low of $80.43 and a 52 week high of $130.00. The business has a 50-day simple moving average of $122.98 and a 200 day simple moving average of $115.67. The stock has a market cap of $821.10 million, a price-to-earnings ratio of 17.22, a PEG ratio of 1.13 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, topping the consensus estimate 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 business had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business earned $0.12 earnings per share. On average, research analysts anticipate that Barrett Business Services will post 7.95 earnings per share for the current year.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds and other institutional investors have recently modified their holdings of BBSI. Assenagon Asset Management S.A. boosted its holdings in shares of Barrett Business Services by 121.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock worth $5,814,000 after purchasing an additional 25,165 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Barrett Business Services by 10.8% during the 4th quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after acquiring an additional 18,897 shares during the period. FMR LLC boosted its holdings in Barrett Business Services by 4.3% during the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after acquiring an additional 12,997 shares during the period. Willner & Heller LLC purchased a new stake in Barrett Business Services during the 4th quarter valued at about $1,121,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Barrett Business Services by 152.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock valued at $1,346,000 after acquiring an additional 6,399 shares during the period. 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.