Barrett Business Services (NASDAQ:BBSI) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Barrett Business Services (NASDAQ:BBSI) released its earnings results on Wednesday. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04, Briefing.com reports. Barrett Business Services had a return on equity of 26.58% and a net margin of 4.60%. The firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the previous year, the firm posted $0.62 EPS. Barrett Business Services’s revenue for the quarter was up 5.7% on a year-over-year basis.

Barrett Business Services Stock Performance

Shares of BBSI traded up $0.16 during trading hours on Thursday, hitting $36.60. The stock had a trading volume of 186,700 shares, compared to its average volume of 137,686. The firm has a market cap of $957.82 million, a P/E ratio of 19.96, a P/E/G ratio of 1.31 and a beta of 1.38. The company’s fifty day simple moving average is $33.38 and its 200 day simple moving average is $31.08. Barrett Business Services has a 12-month low of $21.59 and a 12-month high of $37.00.

Insider Buying and Selling

In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $33.01, for a total value of $79,230.00. Following the transaction, the director now directly owns 26,192 shares of the company’s stock, valued at $864,663.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Roth Mkm upped their price objective on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday. Barrington Research upped their price objective on Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday. Sidoti downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Wednesday, June 5th. Finally, StockNews.com downgraded Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th.

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.