Barrett Business Services (NASDAQ:BBSI) Sets New 52-Week High at $36.26

Barrett Business Services, Inc. (NASDAQ:BBSI) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $36.26 and last traded at $35.95, with a volume of 8506 shares changing hands. The stock had previously closed at $36.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BBSI shares. Sidoti downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Wednesday, June 5th. StockNews.com cut Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 29th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $35.25 target price on shares of Barrett Business Services in a research report on Tuesday, May 28th.

Barrett Business Services Price Performance

The company has a fifty day simple moving average of $33.08 and a two-hundred day simple moving average of $30.93. The company has a market capitalization of $942.12 million, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.38.

Barrett Business Services (NASDAQ:BBSI) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. Barrett Business Services had a return on equity of 26.58% and a net margin of 4.60%. The business had revenue of $265.78 million for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $0.03 EPS. Equities analysts anticipate that Barrett Business Services, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In related news, Director Thomas B. Cusick sold 2,400 shares of the firm’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 transaction, the director now directly owns 26,192 shares in the company, valued at approximately $864,663.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Institutional Trading of Barrett Business Services

Several hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC bought a new stake in shares of Barrett Business Services during the fourth quarter valued at approximately $27,000. CWM LLC raised its stake in shares of Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Barrett Business Services during the 1st quarter worth about $227,000. Arizona State Retirement System acquired a new stake in shares of Barrett Business Services during the 4th quarter valued at about $218,000. Finally, SG Americas Securities LLC bought a new stake in Barrett Business Services in the fourth quarter valued at about $226,000. Institutional investors own 86.76% of the company’s stock.

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.