Barrett Business Services (NASDAQ:BBSI) Upgraded at Zacks Research

Zacks Research upgraded shares of Barrett Business Services (NASDAQ:BBSI – Free Report) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks reports.

Other equities research analysts have also issued reports about the stock. Roth Capital lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $38.00 in a report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Barrett Business Services in a report on Thursday, August 6th. Barrington Research set a $44.00 target price on shares of Barrett Business Services in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Read Our Latest Analysis on Barrett Business Services

Barrett Business Services Stock Up 1.1%

NASDAQ BBSI opened at $31.62 on Monday. The firm has a market cap of $766.47 million, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The business has a 50-day moving average price of $33.41 and a 200-day moving average price of $33.12. Barrett Business Services has a twelve month low of $25.33 and a twelve month high of $45.53.

Barrett Business Services (NASDAQ:BBSI – Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.04). Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%.The business had revenue of $319.27 million for the quarter, compared to analysts’ expectations of $321.55 million. Research analysts expect that Barrett Business Services will post 1.68 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

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

Institutional Investors Weigh In On Barrett Business Services

Several large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Barrett Business Services in the 2nd quarter worth $26,000. Bard Associates Inc. bought a new stake in shares of Barrett Business Services in the 4th quarter worth about $50,000. GAMMA Investing LLC raised its position in shares of Barrett Business Services by 131.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,206 shares of the business services provider’s stock valued at $78,000 after buying an additional 1,251 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Barrett Business Services by 772.6% in the 1st quarter. Fifth Third Bancorp now owns 3,953 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 3,500 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Barrett Business Services in the 2nd quarter valued at about $157,000. Institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

(Get Free Report)

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.

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Analyst Recommendations for Barrett Business Services (NASDAQ:BBSI)

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