Barrett Business Services (NASDAQ:BBSI) Downgraded by StockNews.com to Buy

Barrett Business Services (NASDAQ:BBSI) Downgraded by StockNews.com to Buy


StockNews.com cut shares of Barrett Business Services (NASDAQ:BBSI – Free Report) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Separately, Barrington Research restated an outperform rating and set a $141.00 price objective on shares of Barrett Business Services in a research note on Tuesday.

Read Our Latest Stock Report on Barrett Business Services

Barrett Business Services Trading Down 0.5 %

NASDAQ BBSI opened at $125.40 on Wednesday. The stock has a market cap of $820.12 million, a P/E ratio of 17.20, a PEG ratio of 1.12 and a beta of 1.37. The company’s fifty day simple moving average is $123.70 and its 200-day simple moving average is $117.22. Barrett Business Services has a 52 week low of $82.44 and a 52 week high of $130.00.

Barrett Business Services (NASDAQ:BBSI – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. The firm had revenue of $265.78 million for the quarter, compared to analyst estimates of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. During the same quarter in the previous year, the business posted $0.12 EPS. On average, research analysts expect that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, May 16th. Barrett Business Services’s dividend payout ratio is currently 16.46%.

Institutional Investors Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of BBSI. Assenagon Asset Management S.A. raised its stake in Barrett Business Services by 121.5% during the first quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock valued at $5,814,000 after buying an additional 25,165 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Barrett Business Services by 10.8% during the 4th quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after acquiring an additional 18,897 shares in the last quarter. FMR LLC lifted its stake in Barrett Business Services by 4.3% during the third quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after purchasing an additional 12,997 shares during the last quarter. Willner & Heller LLC acquired a new position in Barrett Business Services in the fourth quarter worth $1,121,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Barrett Business Services by 152.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock valued at $1,346,000 after purchasing an additional 6,399 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Barrett Business Services

(Get Free Report)

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

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