Barrett Business Services (NASDAQ:BBSI) Upgraded to Buy at StockNews.com

Barrett Business Services (NASDAQ:BBSI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research firms also recently issued reports on BBSI. Roth Mkm increased their price objective on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barrington Research upped their price target on shares of Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Barrett Business Services Price Performance

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

Insider Activity at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares in the company, valued at $8,501,132.15. The trade was a 12.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Barrett Business Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares in the last quarter. Amalgamated Bank boosted its position in shares of Barrett Business Services by 300.0% during the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 702 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Barrett Business Services in the third quarter valued at about $34,000. Huntington National Bank acquired a new stake in Barrett Business Services during the third quarter worth about $39,000. Finally, USA Financial Formulas purchased a new position in Barrett Business Services during the third quarter worth about $60,000. Institutional investors and hedge funds 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.