Barrett Business Services (NASDAQ:BBSI) Sets New 1-Year Low – Here’s What Happened

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $32.79 and last traded at $32.9950, with a volume of 209866 shares changing hands. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $46.00 price target on shares of Barrett Business Services in a research note on Monday, February 2nd. Wall Street Zen lowered Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $46.00.

Barrett Business Services Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $36.79 and a 200-day simple moving average of $40.67. The stock has a market cap of $810.26 million, a price-to-earnings ratio of 15.20, a PEG ratio of 0.78 and a beta of 0.99.

Institutional Trading of Barrett Business Services

Several institutional investors have recently added to or reduced their stakes in BBSI. Tripletail Wealth Management LLC bought a new position in shares of Barrett Business Services in the 3rd quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in Barrett Business Services during the fourth quarter worth about $39,000. Farther Finance Advisors LLC raised its stake in Barrett Business Services by 1,388.3% during the third quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after acquiring an additional 833 shares during the period. AlphaQuest LLC bought a new position in Barrett Business Services in the third quarter worth about $54,000. Finally, State of Alaska Department of Revenue acquired a new position in Barrett Business Services in the third quarter valued at approximately $66,000. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.