Barrington Research Reiterates “Outperform” Rating for Barrett Business Services (NASDAQ:BBSI)

Barrington Research reaffirmed their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note released on Thursday morning, Benzinga reports. Barrington Research currently has a $141.00 price objective on the business services provider’s stock.

Barrett Business Services Price Performance

Shares of BBSI stock opened at $123.38 on Thursday. Barrett Business Services has a 1 year low of $76.22 and a 1 year high of $130.00. The firm has a fifty day moving average price of $121.66 and a 200-day moving average price of $113.49. The company has a market cap of $806.91 million, a price-to-earnings ratio of 16.92, a PEG ratio of 1.11 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.29. Barrett Business Services had a return on equity of 26.72% and a net margin of 4.60%. The business had revenue of $265.78 million during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. Equities research analysts expect that Barrett Business Services will post 7.95 EPS for the current year.

Barrett Business Services Dividend Announcement

The company also recently declared 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 0.97%. The ex-dividend date of this dividend is Thursday, May 16th. Barrett Business Services’s dividend payout ratio is currently 16.46%.

Institutional Trading of Barrett Business Services

A number of hedge funds and other institutional investors have recently modified their holdings of BBSI. AJOVista LLC bought a new position in Barrett Business Services in the 4th quarter worth $27,000. Ramirez Asset Management Inc. purchased a new stake in shares of Barrett Business Services during the third quarter worth about $45,000. CWM LLC raised its stake in Barrett Business Services by 120,000.0% during the 4th quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 1,200 shares during the period. Gladius Capital Management LP lifted its holdings in Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock worth $178,000 after purchasing an additional 889 shares in the last quarter. Finally, Arizona State Retirement System bought a new position in Barrett Business Services in the 4th quarter worth approximately $218,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile

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.