BidaskClub upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning, BidAskClub reports.
Several other equities analysts also recently commented on BBSI. Roth Capital upped their price target on shares of Barrett Business Services from $110.00 to $130.00 and gave the company a buy rating in a report on Thursday, August 8th. Zacks Investment Research upgraded shares of Barrett Business Services from a hold rating to a buy rating and set a $100.00 price target on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $108.33.
Barrett Business Services stock opened at $86.15 on Tuesday. The company’s 50-day moving average price is $85.60 and its 200-day moving average price is $78.30. Barrett Business Services has a twelve month low of $53.10 and a twelve month high of $91.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $670.26 million, a PE ratio of 14.45 and a beta of 0.95.
Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.69 by $0.12. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Barrett Business Services had a net margin of 5.09% and a return on equity of 39.94%. As a group, sell-side analysts expect that Barrett Business Services will post 5.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.39%. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, August 22nd. Barrett Business Services’s dividend payout ratio is presently 20.08%.
Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Barrett Business Services by 2.1% in the 2nd quarter. BlackRock Inc. now owns 499,954 shares of the business services provider’s stock worth $41,296,000 after acquiring an additional 10,148 shares in the last quarter. Vanguard Group Inc. grew its stake in Barrett Business Services by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 443,541 shares of the business services provider’s stock worth $36,636,000 after acquiring an additional 7,064 shares in the last quarter. FMR LLC grew its stake in Barrett Business Services by 13.7% in the 1st quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock worth $13,411,000 after acquiring an additional 20,901 shares in the last quarter. Northern Trust Corp grew its stake in Barrett Business Services by 0.6% in the 2nd quarter. Northern Trust Corp now owns 173,046 shares of the business services provider’s stock worth $14,293,000 after acquiring an additional 1,029 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its stake in Barrett Business Services by 14.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 127,142 shares of the business services provider’s stock worth $9,832,000 after acquiring an additional 15,993 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.
Barrett Business Services Company Profile
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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