Barrett Business price target raised to $41 from $35 at Barrington

Barrington raised the firm’s price target on Barrett Business to $41 from $35 and keeps an Outperform rating on the shares following quarterly results. The firm notes the company reported Q2 total revenue of $279.7M, which exceeded its forecast and the FactSet consensus forecast by 2%. Barrett Business also reported Q2 EPS of 62c, which exceeded Barrington’s forecast of 60c and the FactSet consensus forecast of 58c. The EPS upside versus the firm’s forecast was largely due to favorable prior-year workers compensation liability and premium adjustments, which added an estimated 24c per share, it adds.