Barrett Business Services (NASDAQ:BBSI) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Barrett Business Services (NASDAQ:BBSI) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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 weighed in on BBSI. ValuEngine lowered Barrett Business Services from a hold rating to a sell rating in a report on Wednesday, October 2nd. BidaskClub raised Barrett Business Services from a buy rating to a strong-buy rating in a report on Thursday, September 19th. Finally, Roth Capital upped their target price on Barrett Business Services from $110.00 to $130.00 and gave the company a buy rating in a report on Thursday, August 8th.

Barrett Business Services stock opened at $86.68 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $629.85 million, a price-to-earnings ratio of 13.58 and a beta of 0.84. Barrett Business Services has a fifty-two week low of $53.10 and a fifty-two week high of $91.92. The stock’s fifty day moving average is $87.16 and its two-hundred day moving average is $82.03.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Tuesday, August 6th. The business services provider reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.12. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Barrett Business Services had a return on equity of 39.94% and a net margin of 5.09%. As a group, sell-side analysts forecast that Barrett Business Services will post 5.53 EPS for the current fiscal year.

In other Barrett Business Services news, Director Thomas J. Carley sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $88.25, for a total value of $264,750.00. Following the sale, the director now owns 24,989 shares of the company’s stock, valued at $2,205,279.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James B. Hicks sold 2,176 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $85.20, for a total value of $185,395.20. Following the completion of the sale, the director now directly owns 17,618 shares in the company, valued at approximately $1,501,053.60. The disclosure for this sale can be found here. Insiders sold 5,376 shares of company stock worth $467,317 in the last three months. 6.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of BBSI. Envestnet Asset Management Inc. boosted its stake in shares of Barrett Business Services by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,770 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 150 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Barrett Business Services by 1.4% during the second quarter. Bessemer Group Inc. now owns 22,400 shares of the business services provider’s stock valued at $1,850,000 after acquiring an additional 300 shares during the last quarter. Swiss National Bank boosted its stake in shares of Barrett Business Services by 2.2% during the second quarter. Swiss National Bank now owns 13,700 shares of the business services provider’s stock valued at $1,132,000 after acquiring an additional 300 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Barrett Business Services by 7.7% during the second quarter. United Services Automobile Association now owns 4,253 shares of the business services provider’s stock valued at $351,000 after acquiring an additional 303 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Barrett Business Services during the second quarter valued at $28,000. 80.22% of the stock is currently owned by institutional investors.

Barrett Business Services Company Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

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