Barrett Business Services (NASDAQ:BBSI) Sets New 52-Week Low – Should You Sell?

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.79 and last traded at $32.9950, with a volume of 209866 shares. The stock had previously closed at $35.48.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBSI. CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Barrington Research reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Barrett Business Services in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.00.

Barrett Business Services Stock Down 9.7%

The company has a market cap of $821.28 million, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. The stock has a 50-day simple moving average of $36.99 and a 200-day simple moving average of $40.90. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Barrett Business Services

Several hedge funds have recently modified their holdings of BBSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Barrett Business Services by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 633 shares in the last quarter. Millennium Management LLC acquired a new position in Barrett Business Services during the first quarter valued at $3,747,000. Jane Street Group LLC acquired a new stake in shares of Barrett Business Services during the first quarter worth approximately $1,732,000. Envestnet Asset Management Inc. acquired a new stake in shares of Barrett Business Services during the 2nd quarter valued at $454,000. Finally, Teacher Retirement System of Texas grew its stake in Barrett Business Services by 2.6% in the second quarter. Teacher Retirement System of Texas now owns 142,607 shares of the business services provider’s stock valued at $5,945,000 after purchasing an additional 3,549 shares in the last quarter. 86.76% of the stock is currently 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.