Barrett Business Services (NASDAQ:BBSI) Receives Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a report published on Thursday morning, Benzinga reports. The firm currently has a $141.00 price objective on the business services provider’s stock.

Barrett Business Services Price Performance

BBSI traded up $3.89 during midday trading on Thursday, reaching $123.38. 44,487 shares of the company’s stock were exchanged, compared to its average volume of 30,263. The business’s 50-day moving average price is $121.66 and its 200 day moving average price is $113.20. The stock has a market capitalization of $806.91 million, a PE ratio of 16.92, a P/E/G ratio of 1.07 and a beta of 1.37. Barrett Business Services has a 1-year low of $76.22 and a 1-year high of $130.00.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.29. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.72%. The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, analysts expect that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.97%. Barrett Business Services’s dividend payout ratio is presently 16.46%.

Institutional Trading of Barrett Business Services

A number of institutional investors have recently modified their holdings of BBSI. Bank of New York Mellon Corp raised its stake in shares of Barrett Business Services by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 53,936 shares of the business services provider’s stock valued at $4,867,000 after acquiring an additional 219 shares during the period. AJOVista LLC purchased a new stake in shares of Barrett Business Services in the fourth quarter worth about $27,000. Bridge City Capital LLC raised its stake in shares of Barrett Business Services by 2.4% during the first quarter. Bridge City Capital LLC now owns 14,287 shares of the business services provider’s stock valued at $1,810,000 after purchasing an additional 332 shares during the period. LSV Asset Management raised its stake in shares of Barrett Business Services by 1.4% during the third quarter. LSV Asset Management now owns 28,373 shares of the business services provider’s stock valued at $2,560,000 after purchasing an additional 399 shares during the period. Finally, Simplicity Solutions LLC lifted its position in shares of Barrett Business Services by 12.7% during the third quarter. Simplicity Solutions LLC now owns 3,964 shares of the business services provider’s stock worth $358,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other 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.