Barrett Business Services (NASDAQ:BBSI) Given Outperform Rating at Barrington Research

Barrington Research restated their outperform rating on shares of Barrett Business Services (NASDAQ:BBSI) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $141.00 price objective on the business services provider’s stock.

Barrett Business Services Stock Performance

Barrett Business Services stock opened at $123.38 on Thursday. Barrett Business Services has a fifty-two week low of $76.22 and a fifty-two week high of $130.00. The stock has a market cap of $806.91 million, a P/E ratio of 16.92, a PEG ratio of 1.11 and a beta of 1.37. The firm’s fifty day moving average price is $121.66 and its 200-day moving average price is $113.49.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. Barrett Business Services had a return on equity of 26.72% and a net margin of 4.60%. The business had revenue of $265.78 million for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $0.12 EPS. Sell-side analysts predict that Barrett Business Services will post 7.95 earnings per share for the current year.

Barrett Business Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.20 annualized dividend and a yield of 0.97%. Barrett Business Services’s payout ratio is presently 16.46%.

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors have recently made changes to their positions in BBSI. Private Capital Management LLC grew its position in Barrett Business Services by 0.5% in the fourth quarter. Private Capital Management LLC now owns 346,058 shares of the business services provider’s stock worth $40,074,000 after acquiring an additional 1,575 shares in the last quarter. FMR LLC increased its position in shares of Barrett Business Services by 4.3% during the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after purchasing an additional 12,997 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Barrett Business Services by 10.8% during the 4th 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Barrett Business Services by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,945 shares of the business services provider’s stock valued at $9,837,000 after buying an additional 1,252 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Barrett Business Services by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 53,936 shares of the business services provider’s stock worth $4,867,000 after buying an additional 219 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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.