Barrett Business Services (NASDAQ:BBSI) Given New $43.00 Price Target at Roth Mkm

Barrett Business Services (NASDAQ:BBSI) had its target price hoisted by Roth Mkm from $40.00 to $43.00 in a research report report published on Thursday, Benzinga reports. Roth Mkm currently has a buy rating on the business services provider’s stock.

BBSI has been the subject of several other research reports. Barrington Research boosted their price target on shares of Barrett Business Services from $35.00 to $41.00 and gave the stock an outperform rating in a research note on Thursday. Sidoti downgraded 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 note on Wednesday, June 5th. Finally, StockNews.com downgraded shares of Barrett Business Services from a strong-buy rating to a buy rating in a research note on Wednesday, May 29th.

Barrett Business Services Stock Performance

Barrett Business Services stock opened at $35.81 on Thursday. Barrett Business Services has a fifty-two week low of $21.59 and a fifty-two week high of $37.00. The firm has a 50 day moving average price of $33.58 and a 200 day moving average price of $31.21. The company has a market capitalization of $937.15 million, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.32 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. Barrett Business Services had a net margin of 4.50% and a return on equity of 26.01%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, equities research analysts forecast that Barrett Business Services will post 1.99 earnings per share for the current year.

Barrett Business Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s payout ratio is presently 16.46%.

Insider Buying and Selling

In related news, Director Thomas B. Cusick sold 2,400 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.01, for a total value of $79,230.00. Following the completion of the sale, the director now directly owns 26,192 shares of the company’s stock, valued at $864,663.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. AJOVista LLC purchased a new stake in shares of Barrett Business Services in the fourth quarter valued at about $27,000. CWM LLC increased its stake 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 acquiring an additional 841 shares during the period. Virtu Financial LLC acquired a new position in shares of Barrett Business Services during the first quarter worth about $227,000. Arizona State Retirement System acquired a new position in shares of Barrett Business Services during the fourth quarter worth about $218,000. Finally, SG Americas Securities LLC acquired a new position in Barrett Business Services during the fourth quarter worth about $226,000. 86.76% of the stock is owned by hedge funds and other 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.