Brokerages Set Barrett Business Services, Inc. (NASDAQ:BBSI) Target Price at $41.50

Barrett Business Services, Inc. (NASDAQ:BBSI) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $41.50.

A number of research firms recently issued reports on BBSI. Zacks Research downgraded Barrett Business Services from a “hold” rating to a “strong sell” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Barrett Business Services in a research report on Monday, December 29th. Roth Mkm decreased their price target on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Barrington Research cut their price objective on Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, February 26th.

Barrett Business Services Stock Up 1.7%

NASDAQ BBSI opened at $29.87 on Friday. The firm’s 50 day moving average is $31.97 and its 200-day moving average is $36.68. The company has a market capitalization of $752.72 million, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. Barrett Business Services has a 12-month low of $25.33 and a 12-month high of $49.65.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, February 25th. The business services provider reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $323.43 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Barrett Business Services will post 2 EPS for the current year.

Barrett Business Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, March 13th. Barrett Business Services’s dividend payout ratio (DPR) is 15.31%.

Insider Buying and Selling

In other Barrett Business Services news, EVP James R. Potts sold 1,803 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $28.68, for a total value of $51,710.04. Following the sale, the executive vice president owned 33,837 shares in the company, valued at $970,445.16. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary Kramer bought 8,370 shares of Barrett Business Services stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $26.89 per share, with a total value of $225,069.30. Following the completion of the purchase, the chief executive officer directly owned 328,801 shares in the company, valued at $8,841,458.89. This trade represents a 2.61% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tripletail Wealth Management LLC acquired a new stake in shares of Barrett Business Services during the 3rd quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Barrett Business Services in the 4th quarter valued at about $39,000. Farther Finance Advisors LLC lifted its position in Barrett Business Services by 1,388.3% during the third quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after acquiring an additional 833 shares during the last quarter. Bard Associates Inc. bought a new stake in shares of Barrett Business Services during the fourth quarter worth approximately $50,000. Finally, AlphaQuest LLC bought a new stake in shares of Barrett Business Services during the third quarter worth approximately $54,000. 86.76% of the stock is owned by institutional investors.

About Barrett Business Services

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.