Barrett Business Services’ (BBSI) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $46.00 target price on the business services provider’s stock.

A number of other brokerages have also commented on BBSI. CJS Securities raised Barrett Business Services to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen cut shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $46.00.

Barrett Business Services Stock Performance

BBSI opened at $37.11 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $36.15 and its 200-day moving average is $41.80. The stock has a market cap of $950.94 million, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00. Barrett Business Services has a twelve month low of $33.01 and a twelve month high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). The business had revenue of $318.95 million during the quarter, compared to the consensus estimate of $319.27 million. Barrett Business Services had a return on equity of 24.36% and a net margin of 4.48%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, analysts predict that Barrett Business Services will post 2 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Barrett Business Services’s payout ratio is currently 15.38%.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, Director Joseph Stephen Clabby bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $34.83 per share, with a total value of $34,830.00. Following the completion of the purchase, the director directly owned 15,391 shares in the company, valued at approximately $536,068.53. This trade represents a 6.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBSI. Jacobs Levy Equity Management Inc. boosted its stake in shares of Barrett Business Services by 22.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 184,662 shares of the business services provider’s stock worth $7,599,000 after acquiring an additional 34,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Barrett Business Services by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider’s stock worth $626,000 after purchasing an additional 633 shares in the last quarter. Millennium Management LLC acquired a new stake in Barrett Business Services during the 1st quarter worth about $3,747,000. Dynamic Technology Lab Private Ltd acquired a new stake in Barrett Business Services during the 1st quarter worth about $322,000. Finally, Jane Street Group LLC purchased a new stake in Barrett Business Services during the first quarter valued at about $1,732,000. Institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

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.