Barrett Business price target lowered to $41 from $46 at Barrington

Barrington lowered the firm’s price target on Barrett Business (BBSI) to $41 from $46 and keeps an Outperform rating on the shares. Barrett Business reported Q4 revenue of $321.1M, up 5% year over year but slightly below forecasts, with gross billings rising 6.4% y/y driven by a 5% increase in average worksite employees despite a decline among existing clients, the analyst tells investors in a research note.