Barrett Business Services (BBSI) Rating Lowered to Hold at Zacks Investment Research

Barrett Business Services (NASDAQ:BBSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

Several other research firms have also recently weighed in on BBSI. ValuEngine raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. BidaskClub raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, Sidoti assumed coverage on Barrett Business Services in a research report on Tuesday, October 9th. They issued a “buy” rating and a $95.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $88.33.

Shares of Barrett Business Services stock opened at $64.44 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. Barrett Business Services has a 12-month low of $53.10 and a 12-month high of $98.76. The firm has a market cap of $478.07 million, a P/E ratio of 15.84 and a beta of 0.71.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Tuesday, November 6th. The business services provider reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.29. Barrett Business Services had a return on equity of 36.31% and a net margin of 3.34%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, equities analysts anticipate that Barrett Business Services will post 4.51 EPS for the current year.

In other news, Director Jon L. Justesen sold 1,235 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $57.16, for a total transaction of $70,592.60. Following the transaction, the director now owns 15,236 shares of the company’s stock, valued at approximately $870,889.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory R. Vaughn sold 7,488 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $71.33, for a total value of $534,119.04. The disclosure for this sale can be found here. In the last three months, insiders sold 16,778 shares of company stock worth $1,073,227. Insiders own 6.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BBSI. SG Americas Securities LLC purchased a new position in shares of Barrett Business Services during the 4th quarter valued at $111,000. Great Lakes Advisors LLC purchased a new position in shares of Barrett Business Services during the 3rd quarter valued at $211,000. Wedge Capital Management L L P NC lifted its position in shares of Barrett Business Services by 49.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,503 shares of the business services provider’s stock valued at $234,000 after buying an additional 1,155 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Barrett Business Services by 127.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,860 shares of the business services provider’s stock valued at $276,000 after buying an additional 1,600 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its position in shares of Barrett Business Services by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 5,209 shares of the business services provider’s stock valued at $348,000 after buying an additional 1,851 shares during the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

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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