Barrett Business Services (NASDAQ:BBSI) Reaches New 12-Month High at $37.81

Barrett Business Services, Inc. (NASDAQ:BBSI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.81 and last traded at $37.51, with a volume of 1307 shares. The stock had previously closed at $37.15.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Wednesday, June 5th. StockNews.com lowered shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 29th. Barrington Research raised their price objective on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Roth Mkm raised their price objective on shares of Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st.

Barrett Business Services Stock Down 1.3 %

The firm has a market cap of $972.37 million, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38. The business’s fifty day moving average is $35.54 and its two-hundred day moving average is $32.91.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $279.60 million during the quarter, compared to analyst estimates of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. Barrett Business Services’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Research analysts forecast that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

Barrett Business Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Barrett Business Services’s dividend payout ratio (DPR) is presently 17.58%.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total value of $1,201,794.40. Following the transaction, the chief executive officer now directly owns 242,543 shares of the company’s stock, valued at $8,501,132.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 35,133 shares of company stock valued at $1,231,357. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds and other institutional investors have recently bought and sold shares of BBSI. CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares in the last quarter. Amalgamated Bank boosted its position in shares of Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after purchasing an additional 702 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Barrett Business Services during the first quarter worth $227,000. Aristides Capital LLC bought a new position in shares of Barrett Business Services during the first quarter worth $277,000. Finally, Lazard Asset Management LLC boosted its position in shares of Barrett Business Services by 64.4% during the first quarter. Lazard Asset Management LLC now owns 2,546 shares of the business services provider’s stock worth $322,000 after purchasing an additional 997 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Barrett Business Services Company Profile

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.