Brokerages Set Barrett Business Services, Inc. (NASDAQ:BBSI) Price Target at $41.50

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $41.50.

A number of research analysts recently issued reports on the stock. CJS Securities raised shares of Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Roth Mkm cut their target price on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Barrington Research reduced their target price on Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Finally, Zacks Research cut Barrett Business Services from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th.

Barrett Business Services Stock Down 1.7%

Shares of Barrett Business Services stock opened at $28.48 on Tuesday. The company has a market capitalization of $717.70 million, a price-to-earnings ratio of 13.63, a PEG ratio of 1.01 and a beta of 1.03. Barrett Business Services has a 12-month low of $25.33 and a 12-month high of $49.65. The firm’s 50-day moving average price is $34.83 and its two-hundred day moving average price is $38.78.

Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Wednesday, February 25th. The business services provider reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $323.43 million. During the same period in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Barrett Business Services will post 2 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 13th. Barrett Business Services’s payout ratio is currently 15.31%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tripletail Wealth Management LLC acquired a new stake in shares of Barrett Business Services in the 3rd quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new position in Barrett Business Services during the 4th quarter worth approximately $39,000. Farther Finance Advisors LLC increased its position in Barrett Business Services by 1,388.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after purchasing an additional 833 shares in the last quarter. Bard Associates Inc. bought a new position in Barrett Business Services in the 4th quarter valued at approximately $50,000. Finally, AlphaQuest LLC bought a new position in Barrett Business Services in the 3rd quarter valued at approximately $54,000. 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.