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

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

Separately, Barrington Research restated an outperform rating and set a $141.00 price target on shares of Barrett Business Services in a report on Tuesday, May 28th.

Read Our Latest Research Report on BBSI

Barrett Business Services Trading Up 2.8 %

BBSI stock opened at $132.34 on Wednesday. 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 has a 12 month low of $82.44 and a 12 month high of $132.90. The firm has a 50-day moving average of $123.97 and a two-hundred day moving average of $117.55.

Barrett Business Services (NASDAQ:BBSIGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS. As a group, equities analysts forecast that Barrett Business Services will post 7.95 earnings per share for the current year.

Barrett Business Services Dividend Announcement

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

Hedge Funds Weigh In On Barrett Business Services

A number of hedge funds have recently made changes to their positions in the stock. Private Capital Management LLC boosted its position in shares of Barrett Business Services by 0.5% during the 4th quarter. Private Capital Management LLC now owns 346,058 shares of the business services provider’s stock worth $40,074,000 after purchasing an additional 1,575 shares during the period. FMR LLC boosted 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 worth $28,459,000 after purchasing an additional 12,997 shares during the period. Wellington Management Group LLP boosted 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 worth $22,454,000 after purchasing an additional 18,897 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 worth $9,837,000 after purchasing an additional 1,252 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Barrett Business Services by 0.4% during 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 purchasing an additional 219 shares during the period. Hedge funds and other 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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