Barrett Business Services, Inc. (NASDAQ:BBSI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the company. TheStreet raised Barrett Business Services from a “c” rating to a “b-” rating in a research note on Wednesday, August 9th. BidaskClub downgraded Barrett Business Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

Shares of Barrett Business Services (BBSI) traded up 2.42% during trading on Friday, reaching $52.83. The company’s stock had a trading volume of 35,748 shares. The stock has a market capitalization of $385.39 million, a PE ratio of 21.28 and a beta of 1.37. The firm’s 50-day moving average is $53.12 and its 200-day moving average is $56.30. Barrett Business Services has a 12-month low of $41.99 and a 12-month high of $66.93.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $1.47 earnings per share (EPS) for the quarter. The business had revenue of $1.30 billion during the quarter. Barrett Business Services had a return on equity of 33.55% and a net margin of 2.06%. Equities analysts expect that Barrett Business Services will post $3.43 earnings per share for the current year.

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In other news, Director Anthony Meeker sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $58.11, for a total transaction of $58,110.00. Following the completion of the transaction, the director now directly owns 11,473 shares of the company’s stock, valued at approximately $666,696.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. EagleClaw Capital Managment LLC increased its stake in Barrett Business Services by 3.1% in the 2nd quarter. EagleClaw Capital Managment LLC now owns 8,350 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Barrett Business Services by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,737 shares of the business services provider’s stock valued at $329,000 after purchasing an additional 166 shares in the last quarter. State Street Corp increased its stake in Barrett Business Services by 6.3% in the 2nd quarter. State Street Corp now owns 139,733 shares of the business services provider’s stock valued at $8,003,000 after purchasing an additional 8,235 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Barrett Business Services by 87.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 47,031 shares of the business services provider’s stock valued at $2,693,000 after purchasing an additional 21,900 shares in the last quarter. Finally, Capital World Investors purchased a new position in Barrett Business Services in the 2nd quarter valued at approximately $17,714,000. 73.62% of the stock is owned by institutional investors and hedge funds.

About Barrett Business Services

Barrett Business Services, Inc (BBSI) is a provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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