Barrett Business Services (NASDAQ:BBSI) Price Target Increased to $43.00 by Analysts at Roth Mkm

Barrett Business Services (NASDAQ:BBSI) had its price target raised by equities researchers at Roth Mkm from $40.00 to $43.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Roth Mkm’s price objective would suggest a potential upside of 18.23% from the stock’s previous close.

BBSI has been the subject of several other reports. Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Wednesday, June 5th. StockNews.com cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Barrington Research increased their price target on shares of Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday.

Barrett Business Services Price Performance

BBSI stock traded down $0.07 during trading on Thursday, reaching $36.37. The company had a trading volume of 133,322 shares, compared to its average volume of 137,323. Barrett Business Services has a 52 week low of $21.59 and a 52 week high of $37.00. The business has a 50 day moving average of $33.38 and a 200 day moving average of $31.08. The company has a market cap of $951.80 million, a P/E ratio of 19.96, a PEG ratio of 1.31 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $273.13 million. Barrett Business Services had a return on equity of 26.58% and a net margin of 4.60%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Research analysts expect that Barrett Business Services will post 1.99 earnings per share for the current year.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $33.01, for a total value of $79,230.00. Following the transaction, the director now directly owns 26,192 shares of the company’s stock, valued at $864,663.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Barrett Business Services by 314.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 192,158 shares of the business services provider’s stock worth $6,297,000 after purchasing an additional 145,799 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Barrett Business Services by 401.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,124 shares of the business services provider’s stock worth $2,134,000 after acquiring an additional 52,140 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Barrett Business Services by 88.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 86,398 shares of the business services provider’s stock worth $2,831,000 after acquiring an additional 40,519 shares during the period. Equitable Trust Co. raised its position in shares of Barrett Business Services by 300.0% during the 2nd quarter. Equitable Trust Co. now owns 40,040 shares of the business services provider’s stock valued at $1,312,000 after purchasing an additional 30,030 shares during the period. Finally, Willner & Heller LLC boosted its holdings in Barrett Business Services by 300.7% in the 2nd quarter. Willner & Heller LLC now owns 38,333 shares of the business services provider’s stock worth $1,256,000 after buying an additional 28,767 shares during the period. 86.76% of the stock is currently owned by institutional investors.

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.