Barrett Business Services, Inc. (NASDAQ:BBSI) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price target of $97.50 for the company and are predicting that the company will post $1.74 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Barrett Business Services an industry rank of 156 out of 257 based on the ratings given to related companies.
Several brokerages recently weighed in on BBSI. ValuEngine raised Barrett Business Services from a “hold” rating to a “buy” rating in a report on Monday, November 12th. BidaskClub upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Sidoti initiated coverage on Barrett Business Services in a research note on Tuesday, October 9th. They issued a “buy” rating and a $95.00 target price for the company.
BBSI traded down $0.30 during trading hours on Tuesday, hitting $69.42. The stock had a trading volume of 42,800 shares, compared to its average volume of 45,011. Barrett Business Services has a 1 year low of $56.10 and a 1 year high of $98.76. The firm has a market cap of $523.91 million, a P/E ratio of 20.85 and a beta of 0.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.94 and a current ratio of 0.94.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Tuesday, November 6th. The business services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.29. Barrett Business Services had a return on equity of 36.31% and a net margin of 3.34%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. As a group, research analysts predict that Barrett Business Services will post 4.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $1.00 annualized dividend and a yield of 1.44%. Barrett Business Services’s dividend payout ratio is currently 30.03%.
In other Barrett Business Services news, COO Gregory R. Vaughn sold 7,488 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $71.33, for a total value of $534,119.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Meeker sold 1,000 shares of Barrett Business Services stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $66.88, for a total value of $66,880.00. Following the sale, the director now owns 11,894 shares of the company’s stock, valued at approximately $795,470.72. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Barrett Business Services by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 554,715 shares of the business services provider’s stock valued at $37,043,000 after acquiring an additional 6,510 shares during the last quarter. BlackRock Inc. boosted its position in shares of Barrett Business Services by 1.5% during the 3rd quarter. BlackRock Inc. now owns 483,833 shares of the business services provider’s stock valued at $32,311,000 after acquiring an additional 7,001 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Barrett Business Services by 1.5% during the 3rd quarter. Renaissance Technologies LLC now owns 412,500 shares of the business services provider’s stock valued at $27,547,000 after acquiring an additional 6,000 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Barrett Business Services during the 3rd quarter valued at about $19,366,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Barrett Business Services by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 285,340 shares of the business services provider’s stock valued at $19,054,000 after acquiring an additional 4,461 shares during the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
Further Reading: Why is the ex-dividend date different from the record date?
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