Barrett Business Services, Inc. (NASDAQ:BBSI) Stock Has Consensus Price Target of $41.00 According to Analysts

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $41.00.

BBSI has been the subject of several research reports. Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a report on Thursday, August 6th. Barrington Research set a $44.00 target price on Barrett Business Services in a research report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Barrett Business Services in a report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Barrett Business Services in a report on Friday, October 9th.

Hedge Funds Weigh In On Barrett Business Services

A number of large investors have recently modified their holdings of BBSI. BlackRock Inc. purchased a new position in shares of Barrett Business Services in the 2nd quarter valued at $72,793,000. Dimensional Fund Advisors LP lifted its holdings in shares of Barrett Business Services by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 661,181 shares of the business services provider’s stock valued at $19,295,000 after acquiring an additional 25,221 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Barrett Business Services by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 639,462 shares of the business services provider’s stock valued at $18,660,000 after acquiring an additional 8,600 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in Barrett Business Services during the 2nd quarter worth $15,984,000. Finally, Tieton Capital Management LLC purchased a new stake in Barrett Business Services during the 2nd quarter worth $11,345,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Stock Performance

Barrett Business Services stock opened at $32.55 on Wednesday. Barrett Business Services has a 1 year low of $25.33 and a 1 year high of $43.04. The firm has a 50 day moving average price of $32.59 and a 200 day moving average price of $33.26. The company has a market cap of $789.01 million, a price-to-earnings ratio of 23.93, a PEG ratio of 1.21 and a beta of 0.94.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). The company had revenue of $319.27 million for the quarter, compared to analyst estimates of $321.55 million. Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%. Sell-side analysts predict that Barrett Business Services will post 1.68 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 21st. This represents a $0.32 annualized dividend and a yield of 1.0%. Barrett Business Services’s dividend payout ratio is currently 23.53%.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ:BBSI) is a provider of business management and workforce solutions for small and midsize businesses in the United States. The company combines professional employer organization (PEO) services with staffing and management consulting to help clients manage employment-related responsibilities and day-to-day operations.

Its services include payroll administration, human resources support, employee benefits administration, risk management, workers’ compensation management, and regulatory compliance assistance.