Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $102.50 for the company and are expecting that the company will post $1.64 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Barrett Business Services an industry rank of 94 out of 256 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on BBSI shares. BidaskClub raised Barrett Business Services from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Zacks Investment Research cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.
BBSI traded down $0.98 during midday trading on Friday, hitting $87.68. The company had a trading volume of 906 shares, compared to its average volume of 34,448. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $659.25 million, a P/E ratio of 17.61 and a beta of 0.88. Barrett Business Services has a twelve month low of $53.10 and a twelve month high of $97.61. The firm has a 50-day moving average price of $84.11.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.50. Barrett Business Services had a net margin of 4.80% and a return on equity of 42.37%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, research analysts anticipate that Barrett Business Services will post 5.5 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors acquired a new stake in shares of Barrett Business Services during the second quarter worth about $89,000. Legal & General Group Plc increased its position in Barrett Business Services by 29.1% during the fourth quarter. Legal & General Group Plc now owns 1,349 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 304 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Barrett Business Services by 49,366.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,484 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 1,481 shares during the last quarter. Aperio Group LLC purchased a new stake in Barrett Business Services during the second quarter valued at $156,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Barrett Business Services by 393.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,321 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 1,851 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.
About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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