Barrett Business Services (BBSI) – Research Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Barrett Business Services (NASDAQ: BBSI):

• 5/13/2022 – Barrett Business Services was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/9/2022 – Barrett Business Services was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $88.00 price target on the stock. According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “
• 5/5/2022 – Barrett Business Services was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/5/2022 – Barrett Business Services had its “buy” rating reaffirmed by analysts at Roth Capital.
• 5/5/2022 – Barrett Business Services had its price target raised by analysts at Barrington Research from $85.00 to $102.00.
• 5/3/2022 – Barrett Business Services was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “
• 3/31/2022 – Barrett Business Services is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

BBSI stock opened at $71.86 on Wednesday. The business’s fifty day moving average is $74.76 and its 200-day moving average is $70.66. The company has a market cap of $526.02 million, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.79 and a beta of 1.46. Barrett Business Services, Inc. has a twelve month low of $57.76 and a twelve month high of $86.82.

Barrett Business Services (NASDAQ:BBSI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The business services provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.67. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Barrett Business Services had a return on equity of 21.43% and a net margin of 4.37%. During the same quarter in the prior year, the business posted ($0.60) EPS. Analysts predict that Barrett Business Services, Inc. will post 6.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 19th. Barrett Business Services’s payout ratio is 21.28%.

Several hedge funds and other institutional investors have recently made changes to their positions in BBSI. FMR LLC grew its holdings in shares of Barrett Business Services by 13.7% in the 1st quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock valued at $13,411,000 after acquiring an additional 20,901 shares in the last quarter. Millennium Management LLC acquired a new position in Barrett Business Services during the second quarter valued at approximately $554,000. Wells Fargo & Company MN raised its position in Barrett Business Services by 22.8% during the second quarter. Wells Fargo & Company MN now owns 9,943 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 1,849 shares in the last quarter. Advisor Group Holdings Inc. raised its position in Barrett Business Services by 5.5% during the third quarter. Advisor Group Holdings Inc. now owns 3,599 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 189 shares in the last quarter. Finally, Barclays PLC raised its position in Barrett Business Services by 183.5% during the third quarter. Barclays PLC now owns 3,195 shares of the business services provider’s stock valued at $244,000 after purchasing an additional 2,068 shares in the last quarter. Institutional investors own 81.74% of the company’s stock.

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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