Barrett Business Services, Inc. (NASDAQ:BBSI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several analysts have weighed in on BBSI shares. Weiss Ratings raised Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Zacks Research lowered shares of Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Barrington Research set a $44.00 price target on shares of Barrett Business Services in a research report on Thursday, August 6th. Roth Capital downgraded shares of Barrett Business Services from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $38.00 in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th.

Insider Buying and Selling

In other news, Director Anthony Meeker sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $37.85, for a total transaction of $454,200.00. Following the completion of the transaction, the director directly owned 44,945 shares of the company’s stock, valued at $1,701,168.25. This trade represents a 21.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Potts sold 3,490 shares of Barrett Business Services stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total transaction of $132,620.00. Following the completion of the sale, the executive vice president owned 32,035 shares in the company, valued at $1,217,330. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 20,779 shares of company stock valued at $786,233. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Barrett Business Services

Several hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Barrett Business Services in the second quarter valued at about $26,000. Bard Associates Inc. acquired a new position in Barrett Business Services during the fourth quarter valued at approximately $50,000. GAMMA Investing LLC grew its stake in Barrett Business Services by 131.0% in the second quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 1,251 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Barrett Business Services by 772.6% during the 1st quarter. Fifth Third Bancorp now owns 3,953 shares of the business services provider’s stock worth $115,000 after purchasing an additional 3,500 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Barrett Business Services during the 2nd quarter worth approximately $157,000. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Stock Performance

Shares of BBSI opened at $32.86 on Friday. The firm has a market capitalization of $796.53 million, a price-to-earnings ratio of 24.16, a PEG ratio of 1.24 and a beta of 0.92. The business’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $32.77. Barrett Business Services has a 52 week low of $25.33 and a 52 week high of $46.93.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%.The firm had revenue of $319.27 million for the quarter, compared to the consensus estimate of $321.55 million. As a group, research analysts forecast that Barrett Business Services will post 1.68 EPS for the current year.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a $0.08 dividend. The ex-dividend date was Friday, August 21st. This represents a $0.32 annualized dividend and a yield of 1.0%. Barrett Business Services’s payout ratio is presently 23.53%.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ:BBSI) provides business management solutions for small and mid-sized companies in the United States. The company combines professional employer organization (PEO) services with staffing and recruiting capabilities, allowing clients to outsource or supplement key human resources and administrative functions.

Its services include payroll administration, employee benefits support, workers’ compensation management, human resources guidance, workplace safety and risk management, and regulatory compliance assistance.