Key Points
- EVP James Potts sold 1,803 shares on March 17 at an average price of $28.68 for proceeds of about $51,710, reducing his position by 5.06% to 33,837 shares valued near $970,445.
- Q4 results: Barrett reported earnings of $0.64 per share (in line with estimates) with quarterly revenue up 5.3% year-over-year, and analysts project roughly 2.00 EPS for the current fiscal year.
- The company declared a quarterly dividend of $0.08 (annualized $0.32, ~1.1% yield; ex-dividend March 13), while analysts have an average rating of "Moderate Buy" and an average target price of $41.50.
Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) EVP James Potts sold 1,803 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $28.68, for a total transaction of $51,710.04. Following the sale, the executive vice president directly owned 33,837 shares of the company's stock, valued at $970,445.16. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Barrett Business Services Trading Up 1.1%
BBSI stock traded up $0.31 during mid-day trading on Thursday, hitting $28.46. The stock had a trading volume of 6,749 shares, compared to its average volume of 247,110. The firm has a fifty day simple moving average of $33.55 and a 200 day simple moving average of $37.82. The firm has a market capitalization of $717.27 million, a P/E ratio of 13.59, a P/E/G ratio of 0.99 and a beta of 1.02. Barrett Business Services, Inc. has a 52 week low of $25.33 and a 52 week high of $49.65.
Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, hitting analysts' consensus estimates of $0.64. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $323.43 million. Barrett Business Services had a net margin of 4.39% and a return on equity of 23.67%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, equities analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.
Barrett Business Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 13th. This represents a $0.32 annualized dividend and a yield of 1.1%. Barrett Business Services's dividend payout ratio is presently 15.31%.
Institutional Trading of Barrett Business Services
Hedge funds have recently made changes to their positions in the company. Tripletail Wealth Management LLC acquired a new position in shares of Barrett Business Services in the third quarter valued at approximately $34,000. Farther Finance Advisors LLC boosted its position in Barrett Business Services by 1,388.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider's stock worth $40,000 after buying an additional 833 shares during the period. Kestra Advisory Services LLC acquired a new stake in Barrett Business Services during the 4th quarter worth approximately $39,000. AlphaQuest LLC bought a new stake in Barrett Business Services during the 3rd quarter worth approximately $54,000. Finally, Bard Associates Inc. bought a new stake in Barrett Business Services during the 4th quarter worth approximately $50,000. 86.76% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BBSI. CJS Securities upgraded Barrett Business Services to a "strong-buy" rating in a research note on Thursday, December 11th. Zacks Research lowered Barrett Business Services from a "hold" rating to a "strong sell" rating in a research note on Friday, February 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Barrett Business Services in a research report on Monday, December 29th. Barrington Research lowered their target price on Barrett Business Services from $46.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Finally, Roth Mkm dropped their target price on shares of Barrett Business Services from $54.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.50.
Check Out Our Latest Analysis on Barrett Business Services
About Barrett Business Services
(
Get Free Report)
Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.
The company's core offerings include payroll administration, employee benefits management, workers' compensation and risk management services.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
