Zacks Investment Research Lowers Barrett Business Services (NASDAQ:BBSI) to Hold


Zacks Investment Research downgraded shares of Barrett Business Services (NASDAQ:BBSIGet Rating) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “BARRETT BUSINESS SERVICES INC. provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. The Company provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors. “

A number of other equities analysts also recently commented on BBSI. StockNews.com began coverage on shares of Barrett Business Services in a research note on Thursday, March 31st. They issued a buy rating for the company. Roth Capital boosted their price objective on shares of Barrett Business Services from $96.00 to $108.00 in a research note on Thursday, March 3rd. Finally, Barrington Research reduced their price objective on shares of Barrett Business Services from $95.00 to $85.00 in a research note on Thursday, March 3rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and an average price target of $91.00.

Barrett Business Services stock opened at $73.71 on Tuesday. The company has a 50 day moving average price of $73.38 and a 200-day moving average price of $71.52. Barrett Business Services has a fifty-two week low of $57.76 and a fifty-two week high of $86.82. The company has a market capitalization of $539.11 million, a PE ratio of 14.74, a P/E/G ratio of 1.17 and a beta of 1.46.

Barrett Business Services (NASDAQ:BBSIGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The business services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.43. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. Barrett Business Services had a net margin of 3.99% and a return on equity of 19.04%. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, research analysts expect that Barrett Business Services will post 5.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 17th. Barrett Business Services’s payout ratio is presently 24.00%.

Several hedge funds have recently modified their holdings of the company. Cullen Capital Management LLC increased its position in shares of Barrett Business Services by 7.1% during the first quarter. Cullen Capital Management LLC now owns 13,561 shares of the business services provider’s stock worth $1,051,000 after purchasing an additional 904 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Barrett Business Services during the first quarter valued at $43,000. Euclidean Technologies Management LLC grew its holdings in shares of Barrett Business Services by 6.0% during the first quarter. Euclidean Technologies Management LLC now owns 31,456 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 1,770 shares during the last quarter. Lapides Asset Management LLC grew its holdings in shares of Barrett Business Services by 68.4% during the first quarter. Lapides Asset Management LLC now owns 51,200 shares of the business services provider’s stock valued at $3,966,000 after buying an additional 20,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Barrett Business Services during the first quarter valued at $1,884,000. 81.74% of the stock is currently owned by institutional investors and hedge funds.

About Barrett Business Services (Get Rating)

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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