Barrett Business Services (NASDAQ:BBSI) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Barrett Business Services (NASDAQ:BBSIFree Report) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Separately, Barrington Research reiterated an outperform rating and set a $141.00 target price on shares of Barrett Business Services in a report on Thursday, May 2nd.

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Barrett Business Services Stock Up 0.2 %

Barrett Business Services stock opened at $125.55 on Friday. The firm has a market capitalization of $821.10 million, a PE ratio of 17.22, a P/E/G ratio of 1.13 and a beta of 1.37. Barrett Business Services has a 52 week low of $80.43 and a 52 week high of $130.00. The firm’s 50-day simple moving average is $122.98 and its 200 day simple moving average is $115.84.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. The company had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, research analysts expect that Barrett Business Services will post 7.95 EPS for the current fiscal year.

Barrett Business Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.96%. Barrett Business Services’s dividend payout ratio (DPR) is 16.46%.

Institutional Trading of Barrett Business Services

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of Barrett Business Services by 121.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock worth $5,814,000 after purchasing an additional 25,165 shares during the period. Wellington Management Group LLP increased its stake in Barrett Business Services by 10.8% in the fourth quarter. Wellington Management Group LLP now owns 193,903 shares of the business services provider’s stock valued at $22,454,000 after purchasing an additional 18,897 shares during the last quarter. FMR LLC lifted its position in Barrett Business Services by 4.3% during the third quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after buying an additional 12,997 shares during the period. Willner & Heller LLC acquired a new stake in Barrett Business Services in the 4th quarter worth about $1,121,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Barrett Business Services by 152.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,610 shares of the business services provider’s stock valued at $1,346,000 after buying an additional 6,399 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Company Profile

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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.

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