Barrett Business Services’ (BBSI) Outperform Rating Reiterated at Barrington Research

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

Barrett Business Services Stock Performance

NASDAQ BBSI traded up $3.89 during trading hours on Thursday, hitting $123.38. The company had a trading volume of 44,487 shares, compared to its average volume of 30,263. The firm has a 50 day simple moving average of $121.66 and a 200 day simple moving average of $113.34. Barrett Business Services has a 52 week low of $76.22 and a 52 week high of $130.00. The firm has a market capitalization 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 posted its quarterly earnings data 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. The company had revenue of $265.78 million during the quarter, compared to analyst estimates of $1.88 billion. Barrett Business Services had a return on equity of 26.72% and a net margin of 4.60%. During the same quarter last year, the company earned $0.12 earnings per share. On average, research analysts forecast that Barrett Business Services will post 7.95 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 16th. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.46%.

Hedge Funds Weigh In On Barrett Business Services

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

About Barrett Business Services

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.