Separately, Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.00.
Shares of BBSI opened at $86.45 on Friday. The firm has a market capitalization of $640.59 million, a P/E ratio of 17.36 and a beta of 0.88. Barrett Business Services has a 1-year low of $53.10 and a 1-year high of $98.53. The stock’s fifty day moving average price is $79.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94.
Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Tuesday, April 30th. The business services provider reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.50. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Barrett Business Services had a net margin of 4.80% and a return on equity of 42.37%. On average, analysts predict that Barrett Business Services will post 5.5 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in Barrett Business Services by 29.1% during the fourth quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock worth $77,000 after buying an additional 304 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Barrett Business Services by 49,366.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 1,481 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Barrett Business Services by 393.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,321 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 1,851 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Barrett Business Services by 13.4% in the fourth quarter. Citigroup Inc. now owns 2,593 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 307 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Barrett Business Services in the first quarter valued at $228,000. Institutional investors and hedge funds own 82.58% 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. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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