Barrett Business Services, Inc. (NASDAQ:BBSI) Stock Has Average Target Price of $41.00 According to Brokerages

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $41.00.

A number of research firms have recently weighed in on BBSI. Zacks Research upgraded shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Roth Capital cut shares of Barrett Business Services from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $38.00 in a research report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Barrett Business Services in a research note on Thursday, August 6th. Barrington Research set a $44.00 target price on shares of Barrett Business Services in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Barrett Business Services in a research report on Friday, October 9th.

Barrett Business Services Stock Down 1.6%

NASDAQ:BBSI opened at $29.91 on Friday. The stock’s 50-day simple moving average is $32.41 and its 200 day simple moving average is $32.85. The firm has a market capitalization of $725.02 million, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. Barrett Business Services has a twelve month low of $25.33 and a twelve month high of $42.25.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $334.06 million for the quarter, compared to analysts’ expectations of $335.89 million. Barrett Business Services had a return on equity of 19.73% and a net margin of 2.44%. On average, analysts anticipate that Barrett Business Services will post 1.62 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 20th. Barrett Business Services’s dividend payout ratio is presently 25.40%.

Institutional Investors Weigh In On Barrett Business Services

A number of hedge funds and other institutional investors have recently bought and sold shares of BBSI. Russell Investments Group Ltd. increased its holdings in Barrett Business Services by 7.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 265,390 shares of the business services provider’s stock worth $8,031,000 after purchasing an additional 18,882 shares in the last quarter. Riverbridge Partners LLC raised its position in Barrett Business Services by 4.0% in the third quarter. Riverbridge Partners LLC now owns 178,096 shares of the business services provider’s stock valued at $5,389,000 after purchasing an additional 6,891 shares during the last quarter. CenterBook Partners LP bought a new position in Barrett Business Services in the third quarter valued at about $286,000. Bridge City Capital LLC raised its position in Barrett Business Services by 18.3% in the third quarter. Bridge City Capital LLC now owns 97,841 shares of the business services provider’s stock valued at $2,961,000 after purchasing an additional 15,110 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Barrett Business Services by 69.3% during the third quarter. State of Wyoming now owns 7,490 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 3,065 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

Barrett Business Services, Inc (BBSI) provides business management solutions for small and mid-sized companies in the United States. Its services are designed to help clients manage administrative responsibilities and improve operational efficiency while allowing them to focus on their core businesses.

The company operates primarily through a professional employer organization (PEO) model, providing payroll administration, human resources support, employee benefits administration, workers’ compensation services, and risk management.