Barrett Business Services (NASDAQ:BBSI) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• BBSI shares rose above their 200-day moving average, reaching $33.86 and last trading near $33.84, compared with a 200-day average of $32.68.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $41.00, although Roth Capital downgraded the stock to neutral and Zacks Research issued a strong-sell rating.
• The company recently missed quarterly expectations, reporting EPS of $0.52 versus $0.56 expected and revenue of $319.27 million versus $321.55 million forecast. BBSI pays a $0.08 quarterly dividend, while insiders sold about $786,000 of shares over the past 90 days.

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $32.68 and traded as high as $33.86. Barrett Business Services shares last traded at $33.84, with a volume of 153,650 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BBSI shares. Roth Capital cut shares of Barrett Business Services from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $38.00 in a report on Thursday, August 6th. Zacks Research lowered shares of Barrett Business Services from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Citigroup reissued an "outperform" rating on shares of Barrett Business Services in a research report on Thursday, August 6th. Weiss Ratings upgraded Barrett Business Services from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. Finally, Barrington Research set a $44.00 price objective on Barrett Business Services in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Barrett Business Services presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Barrett Business Services Stock Performance

The company's 50-day moving average is $35.83 and its 200 day moving average is $32.68. The company has a market capitalization of $820.28 million, a PE ratio of 24.88, a P/E/G ratio of 1.24 and a beta of 0.92.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.04). The firm had revenue of $319.27 million during the quarter, compared to analysts' expectations of $321.55 million. Barrett Business Services had a return on equity of 20.95% and a net margin of 2.77%. On average, analysts forecast that Barrett Business Services, Inc. will post 1.68 EPS for the current fiscal year.

Barrett Business Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 21st. Barrett Business Services's payout ratio is presently 23.53%.

Insider Buying and Selling

In other Barrett Business Services news, EVP James R. Potts sold 3,490 shares of Barrett Business Services stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $38.00, for a total value of $132,620.00. Following the completion of the sale, the executive vice president owned 32,035 shares of the company's stock, valued at approximately $1,217,330. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony Meeker sold 12,000 shares of Barrett Business Services stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the completion of the sale, the director directly owned 44,945 shares of the company's stock, valued at approximately $1,701,168.25. The trade was a 21.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 20,779 shares of company stock valued at $786,233. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Barrett Business Services

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Barrett Business Services in the 2nd quarter worth about $72,793,000. Mawer Investment Management Ltd. boosted its holdings in shares of Barrett Business Services by 0.7% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,964,053 shares of the business services provider's stock valued at $71,118,000 after acquiring an additional 13,331 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Barrett Business Services by 31.6% during the 4th quarter. Royce & Associates LP now owns 870,863 shares of the business services provider's stock valued at $31,534,000 after acquiring an additional 208,865 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Barrett Business Services by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 661,181 shares of the business services provider's stock worth $19,295,000 after acquiring an additional 25,221 shares during the period. Finally, Trigran Investments Inc. raised its holdings in shares of Barrett Business Services by 62.3% during the fourth quarter. Trigran Investments Inc. now owns 648,738 shares of the business services provider's stock valued at $23,491,000 after purchasing an additional 249,052 shares during the last quarter. 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 provides business management solutions for small and mid-sized companies in the United States. The company combines professional employer organization (PEO) services with staffing and recruiting capabilities, allowing clients to outsource or supplement key human resources and administrative functions.

Its services include payroll administration, employee benefits support, workers' compensation management, human resources guidance, workplace safety and risk management, and regulatory compliance assistance.

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