StockNews.com Downgrades Barrett Business Services (NASDAQ:BBSI) to Hold

Barrett Business Services (NASDAQ:BBSI) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Barrington Research reissued an “outperform” rating and set a $45.00 price objective on shares of Barrett Business Services in a research report on Tuesday, May 6th.

Barrett Business Services Price Performance

NASDAQ BBSI opened at $42.35 on Friday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. The company has a 50 day simple moving average of $40.54 and a 200-day simple moving average of $41.54. Barrett Business Services has a 52-week low of $30.68 and a 52-week high of $44.97.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, May 7th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Barrett Business Services had a net margin of 4.55% and a return on equity of 25.28%. The company had revenue of $292.60 million during the quarter, compared to the consensus estimate of $285.91 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Barrett Business Services will post 2 EPS for the current year.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently modified their holdings of the business. Martingale Asset Management L P raised its holdings in Barrett Business Services by 0.6% during the first quarter. Martingale Asset Management L P now owns 38,213 shares of the business services provider’s stock valued at $1,572,000 after buying an additional 242 shares in the last quarter. Inceptionr LLC increased its holdings in shares of Barrett Business Services by 3.9% during the 4th quarter. Inceptionr LLC now owns 6,939 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 262 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Barrett Business Services by 4.5% in the 4th quarter. Two Sigma Advisers LP now owns 6,900 shares of the business services provider’s stock valued at $300,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Barrett Business Services by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 23,827 shares of the business services provider’s stock valued at $980,000 after acquiring an additional 332 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its holdings in Barrett Business Services by 10.0% in the 1st quarter. Perkins Coie Trust Co now owns 4,400 shares of the business services provider’s stock worth $181,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.