Barrett Business Services (NASDAQ:BBSI) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Barrett Business Services (NASDAQ:BBSIFree Report) from a strong-buy rating to a buy rating in a report published on Wednesday.

Separately, Barrington Research reissued an outperform rating and issued a $141.00 price objective on shares of Barrett Business Services in a research note on Tuesday, May 28th.

Read Our Latest Report on BBSI

Barrett Business Services Trading Up 2.8 %

Shares of NASDAQ:BBSI opened at $132.34 on Wednesday. Barrett Business Services has a 12 month low of $82.44 and a 12 month high of $132.90. The company has a 50-day moving average price of $123.97 and a 200 day moving average price of $117.55. The company has a market cap of $865.77 million, a price-to-earnings ratio of 18.15, a PEG ratio of 1.16 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.29. The business had revenue of $265.78 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.12 earnings per share. As a group, equities analysts forecast that Barrett Business Services will post 7.95 EPS for the current year.

Barrett Business Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, May 16th. Barrett Business Services’s dividend payout ratio is presently 16.46%.

Institutional Trading of Barrett Business Services

Several institutional investors and hedge funds have recently modified their holdings of BBSI. Bank of New York Mellon Corp raised its stake in shares of Barrett Business Services by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 53,936 shares of the business services provider’s stock valued at $4,867,000 after acquiring an additional 219 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Barrett Business Services by 31.9% during the third quarter. Principal Financial Group Inc. now owns 3,086 shares of the business services provider’s stock valued at $278,000 after buying an additional 746 shares during the period. Barclays PLC increased its holdings in Barrett Business Services by 34.0% during the third quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock valued at $573,000 after buying an additional 1,614 shares during the period. EagleClaw Capital Managment LLC purchased a new position in Barrett Business Services during the third quarter valued at approximately $235,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Barrett Business Services by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 83,693 shares of the business services provider’s stock valued at $7,552,000 after buying an additional 1,496 shares during the period. Institutional investors own 86.76% of the company’s stock.

About Barrett Business Services

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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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