Barrett Business Services (NASDAQ:BBSI) Sets New 12-Month Low – What’s Next?

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) hit a new 52-week low during trading on Monday . The company traded as low as $30.24 and last traded at $31.01, with a volume of 80355 shares trading hands. The stock had previously closed at $32.29.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBSI. Barrington Research reaffirmed an “outperform” rating and set a $46.00 price target on shares of Barrett Business Services in a research report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Finally, CJS Securities raised Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Barrett Business Services presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Barrett Business Services Stock Performance

The firm has a market capitalization of $791.27 million, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.27 and a current ratio of 1.27. The stock’s fifty day moving average is $36.46 and its two-hundred day moving average is $40.15.

Institutional Investors Weigh In On Barrett Business Services

A number of hedge funds have recently bought and sold shares of BBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Barrett Business Services by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after purchasing an additional 633 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Barrett Business Services during the first quarter worth approximately $3,747,000. Jane Street Group LLC bought a new stake in shares of Barrett Business Services in the first quarter worth $1,732,000. Envestnet Asset Management Inc. acquired a new stake in Barrett Business Services in the second quarter valued at $454,000. Finally, Teacher Retirement System of Texas raised its holdings in Barrett Business Services by 2.6% in the second quarter. Teacher Retirement System of Texas now owns 142,607 shares of the business services provider’s stock valued at $5,945,000 after acquiring an additional 3,549 shares in the last quarter. Institutional investors and hedge funds 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.