Brokerages Set $97.50 Target Price for Barrett Business Services, Inc. (BBSI)
Barrett Business Services, Inc. (NASDAQ:BBSI) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $97.50 for the company and are anticipating that the company will post $2.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Barrett Business Services an industry rank of 176 out of 255 based on the ratings given to related companies.
A number of research analysts recently issued reports on BBSI shares. Zacks Investment Research raised Barrett Business Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. BidaskClub lowered Barrett Business Services from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. ValuEngine lowered Barrett Business Services from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Sidoti started coverage on Barrett Business Services in a report on Tuesday, October 9th. They set a “buy” rating and a $95.00 target price on the stock.
Large investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC acquired a new position in shares of Barrett Business Services in the 3rd quarter valued at $5,185,000. Russell Investments Group Ltd. boosted its position in shares of Barrett Business Services by 934.9% in the 1st quarter. Russell Investments Group Ltd. now owns 62,714 shares of the business services provider’s stock valued at $5,195,000 after purchasing an additional 56,654 shares during the period. BlackRock Inc. boosted its position in shares of Barrett Business Services by 9.4% in the 2nd quarter. BlackRock Inc. now owns 476,832 shares of the business services provider’s stock valued at $46,047,000 after purchasing an additional 40,940 shares during the period. Renaissance Technologies LLC boosted its position in shares of Barrett Business Services by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 406,500 shares of the business services provider’s stock valued at $39,256,000 after purchasing an additional 36,800 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Barrett Business Services by 627.4% in the 2nd quarter. American Century Companies Inc. now owns 32,335 shares of the business services provider’s stock valued at $3,123,000 after purchasing an additional 27,890 shares during the period. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BBSI opened at $60.75 on Friday. The firm has a market cap of $447.11 million, a PE ratio of 17.11 and a beta of 0.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. Barrett Business Services has a one year low of $56.10 and a one year high of $98.76.
Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.26). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.42 billion. Barrett Business Services had a net margin of 2.91% and a return on equity of 33.22%. Sell-side analysts anticipate that Barrett Business Services will post 4.27 EPS for the current year.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has 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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