Barrington Research Reiterates “Outperform” Rating for Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reissued by Barrington Research in a report issued on Thursday,Benzinga reports. They currently have a $46.00 price target on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 42.46% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. CJS Securities raised shares of Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Barrett Business Services Stock Performance

BBSI opened at $32.29 on Thursday. The stock’s 50 day simple moving average is $36.46 and its 200-day simple moving average is $40.21. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $827.27 million, a PE ratio of 15.52, a P/E/G ratio of 0.81 and a beta of 0.99. Barrett Business Services has a 1 year low of $30.74 and a 1 year high of $49.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mawer Investment Management Ltd. grew its position in Barrett Business Services by 0.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider’s stock worth $71,118,000 after acquiring an additional 13,331 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Barrett Business Services by 20.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,901,425 shares of the business services provider’s stock worth $84,271,000 after purchasing an additional 324,715 shares in the last quarter. Private Capital Management LLC grew its holdings in shares of Barrett Business Services by 1.2% during the fourth quarter. Private Capital Management LLC now owns 999,371 shares of the business services provider’s stock worth $36,187,000 after purchasing an additional 12,117 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Barrett Business Services by 31.6% during the fourth quarter. Royce & Associates LP now owns 870,863 shares of the business services provider’s stock worth $31,534,000 after purchasing an additional 208,865 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Barrett Business Services by 15.3% in the fourth quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock valued at $29,749,000 after buying an additional 109,069 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 (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.