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Barrett Business Services (NASDAQ:BBSI) shares shot up 15.6% during mid-day trading on Wednesday following a stronger than expected earnings report, Analyst Ratings.Net reports. The company traded as high as $59.45 and last traded at $58.68, with a volume of 192,136 shares changing hands. The stock had previously closed at $50.74.

The company reported $0.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.05.

A number of analysts have recently weighed in on BBSI shares. Analysts at Lake Street Capital initiated coverage on shares of Barrett Business Services in a research note on Wednesday, July 2nd. They set a “buy” rating and a $75.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Barrett Business Services from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $48.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Barrett Business Services from a “neutral” rating to an “underperform” rating in a research note on Tuesday, May 13th. They now have a $46.30 price target on the stock.

The stock’s 50-day moving average is $50.51 and its 200-day moving average is $59.31. The company has a market cap of $408.4 million and a P/E ratio of 22.39.

Barrett Business Services, Inc is a provider of business management solutions, combining human resource outsourcing and professional management consulting.

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