Barrett Business Services (NASDAQ:BBSI) Reaches New 1-Year Low – Time to Sell?

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price reached a new 52-week low on Monday . The company traded as low as $30.24 and last traded at $31.01, with a volume of 80355 shares changing hands. The stock had previously closed at $32.29.

Wall Street Analysts Forecast Growth

BBSI has been the topic of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $46.00 target price on shares of Barrett Business Services in a research report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Finally, CJS Securities raised Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $46.00.

Barrett Business Services Stock Performance

The stock’s fifty day simple moving average is $36.46 and its two-hundred day simple moving average is $40.15. The company has a market cap of $791.27 million, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.27 and a current ratio of 1.27.

Institutional Investors Weigh In On Barrett Business Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBSI. Tripletail Wealth Management LLC acquired a new position in shares of Barrett Business Services in the 3rd quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in Barrett Business Services in the fourth quarter valued at approximately $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 valued at $40,000 after buying an additional 833 shares in the last quarter. Bard Associates Inc. acquired a new position in Barrett Business Services during the fourth quarter valued at approximately $50,000. Finally, AlphaQuest LLC purchased a new stake in Barrett Business Services during the third quarter worth approximately $54,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Barrett Business Services Company Profile

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.