Barrington Research Boosts Barrett Business Services (NASDAQ:BBSI) Price Target to $41.00

Barrett Business Services (NASDAQ:BBSI) had its price objective upped by Barrington Research from $35.00 to $41.00 in a research note released on Thursday, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts also recently commented on BBSI. Sidoti downgraded Barrett Business Services from a buy rating to a neutral rating and set a $35.00 target price on the stock. in a research report on Wednesday, June 5th. StockNews.com downgraded Barrett Business Services from a strong-buy rating to a buy rating in a research report on Wednesday, May 29th.

Barrett Business Services Price Performance

Shares of BBSI stock traded down $0.45 during mid-day trading on Thursday, hitting $36.21. The company had a trading volume of 51,989 shares, compared to its average volume of 137,705. The stock’s 50 day moving average price is $33.49 and its 200-day moving average price is $31.11. Barrett Business Services has a 52-week low of $21.59 and a 52-week high of $37.00. The company has a market capitalization of $947.62 million, a P/E ratio of 19.75, a P/E/G ratio of 1.31 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Barrett Business Services had a net margin of 4.50% and a return on equity of 26.01%. The company had revenue of $279.60 million for the quarter, compared to the consensus estimate of $273.13 million. During the same period in the previous year, the firm posted $0.62 EPS. Barrett Business Services’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Barrett Business Services will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.08 per share. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, August 16th. Barrett Business Services’s payout ratio is presently 16.46%.

Insider Activity

In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of Barrett Business Services stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.01, for a total transaction of $79,230.00. Following the completion of the transaction, the director now directly owns 26,192 shares of the company’s stock, valued at $864,663.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors have recently made changes to their positions in the company. AJOVista LLC bought a new position in Barrett Business Services during the 4th quarter valued at about $27,000. CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Virtu Financial LLC bought a new position in shares of Barrett Business Services during the first quarter valued at approximately $227,000. Arizona State Retirement System purchased a new stake in shares of Barrett Business Services in the fourth quarter worth approximately $218,000. Finally, SG Americas Securities LLC bought a new stake in shares of Barrett Business Services during the 4th quarter worth approximately $226,000. Institutional investors own 86.76% 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. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.