Barrett Business Services (NASDAQ:BBSI) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Barrett Business Services (NASDAQ:BBSI) from a strong sell rating to a hold rating in a report released on Monday,Zacks reports.

Other analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Roth Capital downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $38.00 in a research note on Thursday, August 6th. Barrington Research set a $44.00 price target on Barrett Business Services in a research note on Thursday, August 6th. Finally, Citigroup restated an “outperform” rating on shares of Barrett Business Services in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrett Business Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Barrett Business Services Stock Up 0.2%

Shares of Barrett Business Services stock opened at $31.28 on Monday. The company has a market cap of $758.07 million, a P/E ratio of 23.00, a PEG ratio of 1.16 and a beta of 0.94. The firm’s 50 day moving average price is $33.60 and its 200-day moving average price is $33.09. Barrett Business Services has a 52-week low of $25.33 and a 52-week high of $45.53.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). Barrett Business Services had a net margin of 2.77% and a return on equity of 20.95%. The business had revenue of $319.27 million for the quarter, compared to analysts’ expectations of $321.55 million. As a group, equities research analysts forecast that Barrett Business Services will post 1.68 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a $0.08 dividend. The ex-dividend date was Friday, August 21st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Barrett Business Services’s payout ratio is 23.53%.

Institutional Trading of Barrett Business Services

Several hedge funds have recently modified their holdings of BBSI. Integrated Wealth Concepts LLC purchased a new position in Barrett Business Services in the second quarter valued at $26,000. Waverly Advisors LLC boosted its holdings in Barrett Business Services by 0.6% in the second quarter. Waverly Advisors LLC now owns 60,543 shares of the business services provider’s stock valued at $2,150,000 after purchasing an additional 350 shares in the last quarter. Corient Private Wealth LP grew its position in shares of Barrett Business Services by 5.0% in the 2nd quarter. Corient Private Wealth LP now owns 36,377 shares of the business services provider’s stock valued at $1,292,000 after buying an additional 1,741 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Barrett Business Services by 15.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 45,857 shares of the business services provider’s stock valued at $1,629,000 after acquiring an additional 6,062 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC purchased a new position in shares of Barrett Business Services during the second quarter worth about $10,847,000. 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 provider of business management and workforce solutions for small and midsize businesses in the United States. The company combines professional employer organization (PEO) services with staffing and management consulting to help clients manage employment-related responsibilities and day-to-day operations.

Its services include payroll administration, human resources support, employee benefits administration, risk management, workers’ compensation management, and regulatory compliance assistance.