Barrett Business Services (NASDAQ:BBSI) Stock Price Expected to Rise, Roth Mkm Analyst Says

Barrett Business Services (NASDAQ:BBSI) had its price objective hoisted by analysts at Roth Mkm from $43.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Roth Mkm’s price objective suggests a potential upside of 12.84% from the company’s current price.

Separately, Barrington Research reissued an “outperform” rating and issued a $41.00 price objective on shares of Barrett Business Services in a research report on Tuesday, October 29th.

Barrett Business Services Trading Down 1.2 %

Barrett Business Services stock traded down $0.49 during trading hours on Thursday, reaching $39.88. 35,286 shares of the company were exchanged, compared to its average volume of 134,805. Barrett Business Services has a 12 month low of $25.09 and a 12 month high of $41.18. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.22 and a beta of 1.39. The stock has a 50-day moving average of $36.71 and a 200 day moving average of $34.42.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.11 billion. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. As a group, research analysts forecast that Barrett Business Services will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other Barrett Business Services news, CEO Gary Kramer sold 805 shares of Barrett Business Services stock in a transaction on Monday, August 19th. The shares were sold at an average price of $35.00, for a total transaction of $28,175.00. Following the sale, the chief executive officer now owns 276,831 shares in the company, valued at $9,689,085. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

A number of hedge funds have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC raised its position in Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock valued at $12,413,000 after buying an additional 273,516 shares during the last quarter. Ironwood Investment Management LLC raised its position in Barrett Business Services by 155.0% during the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock worth $2,879,000 after acquiring an additional 53,405 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Barrett Business Services during the second quarter worth approximately $758,000. Dimensional Fund Advisors LP boosted its stake in shares of Barrett Business Services by 281.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock worth $28,435,000 after acquiring an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Barrett Business Services by 155.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock worth $1,944,000 after acquiring an additional 36,120 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Barrett Business Services

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.