Barrett Business Services (NASDAQ:BBSI) Stock Rating Upgraded by StockNews.com (2024)

Barrett Business Services (NASDAQ:BBSI – Get Free Report) 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.

Check Out Our Latest Research Report on BBSI

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 – Get Free Report) 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

(Get Free Report)

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.

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