Barrington Research Reaffirms “Outperform” Rating for Barrett Business Services (NASDAQ:BBSI)

Barrett Business Services (NASDAQ:BBSI)‘s stock had its “outperform” rating reaffirmed by Barrington Research in a research note issued on Wednesday,Benzinga reports. They presently have a $45.00 price objective on the business services provider’s stock. Barrington Research’s target price points to a potential upside of 13.75% from the stock’s previous close.

Separately, StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Barrett Business Services Trading Up 1.2 %

Shares of BBSI stock opened at $39.56 on Wednesday. The company has a market cap of $1.02 billion, a P/E ratio of 20.88, a PEG ratio of 1.21 and a beta of 1.31. The firm has a fifty day moving average price of $42.04 and a 200 day moving average price of $40.27. Barrett Business Services has a 12 month low of $28.42 and a 12 month high of $44.97.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Barrett Business Services by 29.7% in the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 3,960 shares during the last quarter. Huntington National Bank purchased a new stake in Barrett Business Services in the third quarter valued at approximately $39,000. Thrivent Financial for Lutherans acquired a new stake in shares of Barrett Business Services in the third quarter valued at approximately $16,422,000. Quest Partners LLC grew its position in shares of Barrett Business Services by 5.6% during the third quarter. Quest Partners LLC now owns 18,998 shares of the business services provider’s stock worth $713,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in shares of Barrett Business Services by 236.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock valued at $68,810,000 after acquiring an additional 1,289,147 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company Profile

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.