Zacks Investment Research Upgrades Barrett Business Services (BBSI) to “Hold”

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Zacks Investment Research upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a sell rating to a hold rating in a report issued on Tuesday.

According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “

BBSI has been the subject of a number of other reports. ValuEngine lowered shares of Barrett Business Services from a buy rating to a hold rating in a research note on Wednesday, August 8th. BidaskClub upgraded shares of Barrett Business Services from a hold rating to a buy rating in a research note on Saturday, June 23rd. Finally, Sidoti started coverage on shares of Barrett Business Services in a research note on Tuesday. They set a buy rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Barrett Business Services currently has a consensus rating of Hold and an average price target of $97.50.

Shares of Barrett Business Services stock opened at $61.99 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $491.50 million, a P/E ratio of 18.62 and a beta of 0.66. Barrett Business Services has a 1 year low of $56.10 and a 1 year high of $98.76.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.26). The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.42 billion. Barrett Business Services had a return on equity of 33.22% and a net margin of 2.91%. Equities research analysts expect that Barrett Business Services will post 4.27 earnings per share for the current fiscal year.

In other Barrett Business Services news, Director Anthony Meeker sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $66.88, for a total transaction of $66,880.00. Following the completion of the sale, the director now directly owns 11,894 shares in the company, valued at approximately $795,470.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in BBSI. Russell Investments Group Ltd. increased its stake in Barrett Business Services by 934.9% during the 1st quarter. Russell Investments Group Ltd. now owns 62,714 shares of the business services provider’s stock valued at $5,195,000 after purchasing an additional 56,654 shares in the last quarter. BlackRock Inc. increased its stake in Barrett Business Services by 9.4% during the 2nd quarter. BlackRock Inc. now owns 476,832 shares of the business services provider’s stock valued at $46,047,000 after purchasing an additional 40,940 shares in the last quarter. Renaissance Technologies LLC increased its stake in Barrett Business Services by 10.0% during the 2nd quarter. Renaissance Technologies LLC now owns 406,500 shares of the business services provider’s stock valued at $39,256,000 after purchasing an additional 36,800 shares in the last quarter. American Century Companies Inc. increased its stake in Barrett Business Services by 627.4% during the 2nd quarter. American Century Companies Inc. now owns 32,335 shares of the business services provider’s stock valued at $3,123,000 after purchasing an additional 27,890 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Barrett Business Services by 34.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 107,840 shares of the business services provider’s stock valued at $10,415,000 after purchasing an additional 27,842 shares in the last quarter. Institutional investors and hedge funds own 81.19% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has 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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