Barrett Business Services (NASDAQ:BBSI) Stock Rating Upgraded by StockNews.com

Barrett Business Services (NASDAQ:BBSI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

BBSI has been the topic of a number of other reports. Barrington Research upped their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Roth Mkm increased their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Barrett Business Services Stock Performance

Barrett Business Services stock opened at $41.43 on Tuesday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39. The company’s 50 day simple moving average is $37.72 and its 200-day simple moving average is $35.09. Barrett Business Services has a 1 year low of $26.60 and a 1 year high of $43.29.

Insiders Place Their Bets

In related news, CEO Gary Kramer sold 34,288 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the sale, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. This represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its stake in Barrett Business Services by 74.4% during the first quarter. Quadrature Capital Ltd now owns 10,435 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 4,450 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Barrett Business Services by 64.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,546 shares of the business services provider’s stock valued at $322,000 after buying an additional 997 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Barrett Business Services by 152.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock valued at $1,346,000 after buying an additional 6,399 shares in the last quarter. Aristides Capital LLC purchased a new position in shares of Barrett Business Services in the 1st quarter valued at $277,000. Finally, Virtu Financial LLC acquired a new stake in Barrett Business Services during the 1st quarter worth $227,000. 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.