Barrett Business Services, Inc. (NASDAQ:BBSI – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $41.00.
Several equities analysts recently issued reports on BBSI shares. Barrington Research set a $44.00 price objective on Barrett Business Services in a report on Thursday, August 6th. Zacks Research cut Barrett Business Services from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings raised Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Citigroup reiterated an “outperform” rating on shares of Barrett Business Services in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th.
Check Out Our Latest Stock Analysis on Barrett Business Services
Barrett Business Services Trading Down 0.4%
Barrett Business Services (NASDAQ:BBSI – Get Free Report) last announced 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 firm had revenue of $319.27 million for the quarter, compared to analysts’ expectations 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 forecast that Barrett Business Services will post 1.68 earnings per share for the current fiscal year.
Barrett Business Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. Barrett Business Services’s dividend payout ratio is 23.53%.
Insider Activity
In other news, EVP James R. Potts sold 3,490 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $38.00, for a total value of $132,620.00. Following the sale, the executive vice president directly owned 32,035 shares in the company, valued at $1,217,330. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Meeker sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the director directly owned 44,945 shares of the company’s stock, valued at approximately $1,701,168.25. This trade represents a 21.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,779 shares of company stock worth $786,233 in the last ninety days. Insiders own 4.80% of the company’s stock.
Hedge Funds Weigh In On Barrett Business Services
A number of institutional investors have recently made changes to their positions in BBSI. California State Teachers Retirement System lifted its position in shares of Barrett Business Services by 3,699.9% in the second quarter. California State Teachers Retirement System now owns 909,809 shares of the business services provider’s stock valued at $32,316,000 after acquiring an additional 885,866 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in Barrett Business Services by 15.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 45,857 shares of the business services provider’s stock worth $1,629,000 after purchasing an additional 6,062 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in Barrett Business Services during the 2nd quarter worth about $10,847,000. Corient Private Wealth LP acquired a new position in Barrett Business Services in the 2nd quarter valued at about $1,265,000. Finally, Bank of America Corp DE acquired a new position in Barrett Business Services in the 2nd quarter valued at about $2,333,000. 86.76% of the stock is owned by institutional investors and hedge funds.
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.
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