Barrett Business Services (NASDAQ:BBSI) Hits New 12-Month Low – Here’s Why

Barrett Business Services, Inc. (NASDAQ:BBSI) shares hit a new 52-week low on Monday . The stock traded as low as $30.24 and last traded at $31.01, with a volume of 80355 shares trading hands. The stock had previously closed at $32.29.

Analysts Set New Price Targets

Several brokerages have recently commented on BBSI. Weiss Ratings reiterated a “hold (c+)” rating on shares of Barrett Business Services in a report on Monday, December 29th. CJS Securities raised Barrett Business Services to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $46.00 price target on shares of Barrett Business Services in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Barrett Business Services has an average rating of “Buy” and a consensus price target of $46.00.

Barrett Business Services Price Performance

The stock has a 50 day moving average of $36.24 and a 200-day moving average of $39.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $806.26 million, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.77 and a beta of 0.99.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. Barrett Business Services had a return on equity of 24.36% and a net margin of 4.48%.The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Institutional Trading of Barrett Business Services

Several large investors have recently made changes to their positions in BBSI. EP Wealth Advisors LLC purchased a new position in shares of Barrett Business Services during the fourth quarter worth $708,000. NewEdge Advisors LLC grew its position in Barrett Business Services by 479.5% during the 4th quarter. NewEdge Advisors LLC now owns 11,022 shares of the business services provider’s stock worth $399,000 after purchasing an additional 9,120 shares during the period. XTX Topco Ltd purchased a new position in shares of Barrett Business Services during the 4th quarter valued at about $848,000. Wellington Management Group LLP lifted its holdings in shares of Barrett Business Services by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 821,560 shares of the business services provider’s stock valued at $29,749,000 after buying an additional 109,069 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Barrett Business Services in the fourth quarter worth about $370,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Company Profile

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.