Barrington Research Raises Barrett Business Services (NASDAQ:BBSI) Price Target to $102.00

Barrett Business Services (NASDAQ:BBSIGet Rating) had its target price upped by Barrington Research from $85.00 to $102.00 in a report released on Thursday, The Fly reports.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Barrett Business Services from a buy rating to a hold rating in a report on Tuesday. Roth Capital increased their price target on Barrett Business Services from $96.00 to $108.00 in a report on Thursday, March 3rd. Finally, StockNews.com began coverage on Barrett Business Services in a report on Thursday, March 31st. They set a buy rating for the company. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $96.67.

NASDAQ BBSI opened at $78.06 on Thursday. The business has a fifty day moving average price of $74.04 and a 200 day moving average price of $71.53. The company has a market cap of $570.62 million, a P/E ratio of 13.84, a P/E/G ratio of 1.19 and a beta of 1.46. Barrett Business Services has a one year low of $57.76 and a one year high of $86.82.

Barrett Business Services (NASDAQ:BBSIGet Rating) last issued its earnings results on Wednesday, May 4th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.68. Barrett Business Services had a return on equity of 19.04% and a net margin of 3.99%. During the same period in the previous year, the company posted ($0.60) earnings per share. On average, research analysts predict that Barrett Business Services will post 5.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, May 19th. Barrett Business Services’s payout ratio is 21.28%.

A number of institutional investors and hedge funds have recently bought and sold shares of BBSI. Royce & Associates LP lifted its stake in Barrett Business Services by 338.0% during the 4th quarter. Royce & Associates LP now owns 213,658 shares of the business services provider’s stock worth $14,755,000 after acquiring an additional 164,878 shares in the last quarter. Alpine Peaks Capital LP acquired a new position in Barrett Business Services during the 4th quarter worth about $4,343,000. Goldman Sachs Group Inc. lifted its stake in Barrett Business Services by 192.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 52,805 shares of the business services provider’s stock worth $4,027,000 after acquiring an additional 34,740 shares in the last quarter. Millennium Management LLC lifted its stake in Barrett Business Services by 399.7% during the 4th quarter. Millennium Management LLC now owns 37,134 shares of the business services provider’s stock worth $2,564,000 after acquiring an additional 29,703 shares in the last quarter. Finally, Euclidean Technologies Management LLC acquired a new position in Barrett Business Services during the 4th quarter worth about $2,050,000. 81.74% of the stock is currently owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile (Get Rating)

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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