Barrington Research Forecasts BBSI FY2024 Earnings

Barrett Business Services, Inc. (NASDAQ:BBSI) – Research analysts at Barrington Research upped their FY2024 earnings per share estimates for shares of Barrett Business Services in a research note issued on Thursday, November 7th. Barrington Research analyst V. Colicchio now forecasts that the business services provider will earn $1.97 per share for the year, up from their previous estimate of $1.95. Barrington Research currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for Barrett Business Services’ current full-year earnings is $2.00 per share.

BBSI has been the topic of a number of other research reports. StockNews.com downgraded Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Monday. Roth Mkm boosted their target price on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Barrett Business Services Price Performance

Shares of BBSI opened at $42.79 on Monday. The company has a market cap of $1.11 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39. The firm has a 50-day moving average of $37.18 and a 200-day moving average of $34.76. Barrett Business Services has a one year low of $26.06 and a one year high of $43.18.

Institutional Investors Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of the business. LSV Asset Management raised its stake in Barrett Business Services by 0.3% in the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock worth $3,811,000 after purchasing an additional 100 shares in the last quarter. Summit Global Investments raised its position in shares of Barrett Business Services by 1.5% in the third quarter. Summit Global Investments now owns 24,456 shares of the business services provider’s stock valued at $917,000 after buying an additional 352 shares in the last quarter. Perkins Coie Trust Co boosted its stake in shares of Barrett Business Services by 11.1% in the third quarter. Perkins Coie Trust Co now owns 4,000 shares of the business services provider’s stock valued at $150,000 after buying an additional 400 shares during the period. BNP Paribas Financial Markets grew its position in Barrett Business Services by 10.3% during the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after buying an additional 509 shares in the last quarter. Finally, Amalgamated Bank grew its position in Barrett Business Services by 300.0% during the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 805 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $35.00, for a total value of $28,175.00. Following the transaction, the chief executive officer now owns 276,831 shares of the company’s stock, valued at approximately $9,689,085. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Barrett Business Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.75%. Barrett Business Services’s dividend payout ratio is currently 16.93%.

About Barrett Business Services

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.