Barrett Business Services (NASDAQ:BBSI) Hits New 52-Week High at $130.21

Shares of Barrett Business Services, Inc. (NASDAQ:BBSIGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $130.21 and last traded at $130.13, with a volume of 17322 shares trading hands. The stock had previously closed at $128.74.

Wall Street Analyst Weigh In

A number of research analysts have commented on BBSI shares. StockNews.com downgraded shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Barrington Research reiterated an “outperform” rating and set a $141.00 price objective on shares of Barrett Business Services in a research note on Tuesday, May 28th.

Get Our Latest Analysis on Barrett Business Services

Barrett Business Services Trading Up 2.8 %

The stock has a market capitalization of $865.77 million, a P/E ratio of 18.15, a P/E/G ratio of 1.16 and a beta of 1.37. The stock’s 50 day simple moving average is $123.97 and its 200 day simple moving average is $117.55.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. The company had revenue of $265.78 million for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $0.12 EPS. On average, sell-side analysts expect that Barrett Business Services, Inc. will post 7.95 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.30 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.91%. Barrett Business Services’s payout ratio is currently 16.46%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBSI. Principal Financial Group Inc. lifted its position in shares of Barrett Business Services by 31.9% in the 3rd quarter. Principal Financial Group Inc. now owns 3,086 shares of the business services provider’s stock worth $278,000 after buying an additional 746 shares during the last quarter. Barclays PLC lifted its position in shares of Barrett Business Services by 34.0% in the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock worth $573,000 after buying an additional 1,614 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Barrett Business Services by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 83,693 shares of the business services provider’s stock worth $7,552,000 after acquiring an additional 1,496 shares during the period. FMR LLC increased its holdings in shares of Barrett Business Services by 4.3% in the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after acquiring an additional 12,997 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Barrett Business Services in the 3rd quarter worth about $45,000. 86.76% of the stock is currently owned by institutional investors.

About Barrett Business Services

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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.

Further Reading

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