Barrett Business Services (NASDAQ:BBSI) PT Raised to $43.00

Barrett Business Services (NASDAQ:BBSI) had its target price boosted by Roth Mkm from $40.00 to $43.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other analysts have also recently commented on the stock. StockNews.com cut shares of Barrett Business Services from a strong-buy rating to a buy rating in a research report on Wednesday, May 29th. Barrington Research upped their target price on shares of Barrett Business Services from $35.00 to $41.00 and gave the company an outperform rating in a research report on Thursday. Finally, Sidoti cut shares of Barrett Business Services from a buy rating to a neutral rating and set a $35.00 target price for the company. in a research report on Wednesday, June 5th.

Barrett Business Services Price Performance

BBSI stock opened at $35.81 on Thursday. The company has a 50 day moving average price of $33.58 and a 200 day moving average price of $31.21. Barrett Business Services has a fifty-two week low of $21.59 and a fifty-two week high of $37.00. The stock has a market capitalization of $937.15 million, a PE 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 posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $273.13 million. During the same quarter in the previous year, the company posted $0.62 EPS. Barrett Business Services’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Barrett Business Services will post 1.99 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s dividend payout ratio is currently 16.46%.

Insider Activity at Barrett Business Services

In related news, Director Thomas B. Cusick sold 2,400 shares of the company’s 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 completion of the sale, the director now owns 26,192 shares in the company, valued at approximately $864,663.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Barrett Business Services

A number of large investors have recently made changes to their positions in BBSI. Bank of New York Mellon Corp raised its stake in shares of Barrett Business Services by 314.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 192,158 shares of the business services provider’s stock valued at $6,297,000 after purchasing an additional 145,799 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Barrett Business Services by 401.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,124 shares of the business services provider’s stock valued at $2,134,000 after purchasing an additional 52,140 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Barrett Business Services by 88.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 86,398 shares of the business services provider’s stock valued at $2,831,000 after purchasing an additional 40,519 shares during the period. Equitable Trust Co. raised its stake in shares of Barrett Business Services by 300.0% in the 2nd quarter. Equitable Trust Co. now owns 40,040 shares of the business services provider’s stock valued at $1,312,000 after purchasing an additional 30,030 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Barrett Business Services by 306.3% in the 2nd quarter. Rhumbline Advisers now owns 39,736 shares of the business services provider’s stock valued at $1,302,000 after purchasing an additional 29,956 shares during the period. Institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

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.