Barrett Business Services Inc. (NSD:BBSI), a business services provider, is predicted to post earnings per share (EPS) of $8.10 for FY2024, exceeding the current consensus estimate of $7.05 per share, according to a report issued by Barrington Research on March 3rd. While StockNews.com downgraded Barrett Business Services Inc. (NSD:BBSI) from a “strong-buy” rating to “buy,” four other equities research analysts rated the stock as a “buy.” StockTargetAdvisor’s data shows a consensus rating of “buy,” with an average price target of $100.50. The stock opened at $91.60 on Monday, with a 52-week high of $100.85. Recent changes to the company’s institutional investors’ positions indicate that 86.40% of the stock is currently owned by them. BBSI also declared a quarterly dividend of $0.30 per share, with an annualized dividend yield of 1.31%, payable on March 31st to stockholders of record on March 17th.
BBSI’s market capitalization is $637.54 million, and it has a price-to-earnings (P/E) ratio of 13.86, a price-to-earnings growth (PEG) ratio of 0.93, and a beta of 1.34. The business has a 50-day moving average of $95.78 and a 200-day moving average of $90.25.
Institutional investors and hedge funds have been actively modifying their positions in the company. Polaris Capital Management LLC increased its position in BBSI by 7,355.4% during the second quarter, while JPMorgan Chase & Co. raised its position in the company by 45.9% during the same period. Continental Investors Services Inc. purchased a new stake in BBSI during the third quarter, while Allspring Global Investments Holdings LLC boosted its holdings during the fourth quarter by 725.3%. Polar Asset Management Partners Inc. bought a new position in BBSI in the first quarter, worth $3,085,000.
Barrett Business Services Inc Stock Forecast
According to forecasts from one analyst, the average target price for shares of Barrett Business Services Inc (NSD:BBSI) is expected to be $102.00 in the next 12 months. BBSI’s average analyst ratings is Strong Buy. However, Stock Target Advisor’s own analysis of the stock is Slightly Bearish, based on four positive signals and seven negative signals. As of the last market close, BBSI’s stock price was $91.60, reflecting a decrease of 5.35% over the past week, a decrease of 7.76% over the past month, and an increase of 24.74% over the past year.
Company Overview
Barrett Business Services, Inc. (BBSI) is a US-based company that offers business management solutions to small and medium-sized enterprises. The company’s management platform combines knowledge-based approaches from the consulting industry with human resource outsourcing tools. It provides professional employer services, including co-employment relationships, payroll administration, and workers’ compensation coverage. Additionally, the company offers staffing and recruiting services, such as contract staffing, direct placement, and on-site management services. Barrett Business Services caters to a range of industries, including electronics manufacturing, agriculture, transportation, telecommunications, and construction-related fields. It was founded in 1965 and is headquartered in Vancouver, Washington.
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