Brokerages Expect Barrett Business Services, Inc. (BBSI) to Post $1.98 EPS

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus target price of $102.00 for the company and are forecasting that the company will post $1.98 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Barrett Business Services an industry rank of 104 out of 255 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on BBSI shares. Roth Capital raised their target price on Barrett Business Services from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. BidaskClub raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Finally, Zacks Investment Research raised Barrett Business Services from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, January 18th.

In other Barrett Business Services news, Director Anthony Meeker sold 2,332 shares of Barrett Business Services stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $76.49, for a total transaction of $178,374.68. Following the transaction, the director now owns 10,327 shares of the company’s stock, valued at $789,912.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Gregory R. Vaughn sold 7,679 shares of Barrett Business Services stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.98, for a total value of $621,845.42. Following the transaction, the chief operating officer now directly owns 88,157 shares in the company, valued at approximately $7,138,953.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,572 shares of company stock worth $1,254,276. 6.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Barrett Business Services by 1.5% during the third quarter. BlackRock Inc. now owns 483,833 shares of the business services provider’s stock worth $32,311,000 after buying an additional 7,001 shares during the period. Acadian Asset Management LLC increased its position in Barrett Business Services by 20.7% during the fourth quarter. Acadian Asset Management LLC now owns 19,660 shares of the business services provider’s stock worth $1,127,000 after buying an additional 3,378 shares during the period. FMR LLC increased its position in Barrett Business Services by 97.0% during the fourth quarter. FMR LLC now owns 152,531 shares of the business services provider’s stock worth $8,732,000 after buying an additional 75,117 shares during the period. MetLife Investment Advisors LLC grew its stake in shares of Barrett Business Services by 55.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 5,209 shares of the business services provider’s stock valued at $348,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of Barrett Business Services by 32.6% in the 4th quarter. Martingale Asset Management L P now owns 35,014 shares of the business services provider’s stock valued at $2,006,000 after purchasing an additional 8,601 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors.

Shares of NASDAQ BBSI traded up $1.74 during midday trading on Wednesday, hitting $74.60. 8,736 shares of the company’s stock were exchanged, compared to its average volume of 42,143. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.98 and a current ratio of 0.98. Barrett Business Services has a twelve month low of $53.10 and a twelve month high of $98.76. The firm has a market capitalization of $557.60 million, a PE ratio of 14.98 and a beta of 0.88.

Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Tuesday, April 30th. The business services provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.50. Barrett Business Services had a return on equity of 40.14% and a net margin of 4.05%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, sell-side analysts forecast that Barrett Business Services will post 5.41 earnings per share for the current fiscal year.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.

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