Barrett Business Services (NASDAQ:BBSI) Given New $41.00 Price Target at Barrington Research

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

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

Barrett Business Services Stock Performance

BBSI stock traded down $2.00 during midday trading on Thursday, reaching $33.81. 11,832 shares of the company were exchanged, compared to its average volume of 138,140. Barrett Business Services has a 1-year low of $21.59 and a 1-year high of $37.00. The stock’s 50-day simple moving average is $33.58 and its 200 day simple moving average is $31.21. The company has a market cap of $884.81 million, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.32 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, topping 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 analysts’ expectations of $273.13 million. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts anticipate that Barrett Business Services will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. This is a positive change from Barrett Business Services’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, August 16th. Barrett Business Services’s dividend payout ratio (DPR) is 16.46%.

Insider Activity at Barrett Business Services

In related 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 value of $79,230.00. Following the transaction, the director now directly owns 26,192 shares in the company, valued at approximately $864,663.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management grew its position in Barrett Business Services by 0.3% in the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock valued at $3,811,000 after buying an additional 100 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Barrett Business Services during the 4th quarter worth $27,000. Bridge City Capital LLC boosted its position in shares of Barrett Business Services by 2.4% during the 1st quarter. Bridge City Capital LLC now owns 14,287 shares of the business services provider’s stock worth $1,810,000 after purchasing an additional 332 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Barrett Business Services by 10.3% during the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after purchasing an additional 509 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.