BG Staffing (BGSF) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of BG Staffing (NYSEAMERICAN:BGSF) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $23.00 price objective on the business services provider’s stock.

According to Zacks, “BG Staffing, Inc. is a national provider of temporary staffing services across a diverse set of industries. Its present business segments offer temp services in the Multi-Family, Professional and Commercial sectors. In the Multi-Family segment BG offers temporary workers that perform front office and maintenance personnel in 18 states (Nevada, Arizona, Colorado, Kansas, Oklahoma, Texas, Missouri, Wisconsin, Illinois, Tennessee, Georgia, Florida, N. Carolina, Virginia, Maryland, Pennsylvania, Massachusetts, Rhode Island); temporary skilled contract labor for Finance & Accounting and also for IT implementation and maintenance projects nationwide from offices in 5 states (Texas, Louisiana, N. Carolina, Maryland, Rhode Island); temp labor services in various skilled and unskilled positions to primarily distribution and logistics customers in its Commercial segment in 5 states (Texas, Wisconsin, Illinois, Tennessee, Mississippi). BG Staffing, Inc. is headquartered in Plano, Texas. “

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BG Staffing opened at $20.90 on Wednesday, according to Marketbeat. BG Staffing has a 12-month low of $14.26 and a 12-month high of $22.49.

BG Staffing (NYSEAMERICAN:BGSF) last posted its quarterly earnings results on Monday, April 30th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.14. BG Staffing had a net margin of 4.40% and a return on equity of 30.25%. The business had revenue of $66.86 million during the quarter, compared to the consensus estimate of $65.38 million.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $1.20 annualized dividend and a yield of 5.74%. This is an increase from BG Staffing’s previous quarterly dividend of $0.25.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in BG Staffing by 119.9% during the 4th quarter. Deutsche Bank AG now owns 15,715 shares of the business services provider’s stock worth $248,000 after acquiring an additional 8,570 shares during the last quarter. Algert Global LLC purchased a new position in BG Staffing during the 4th quarter worth $360,000. Dimensional Fund Advisors LP purchased a new position in BG Staffing during the 1st quarter worth $597,000. Wells Fargo & Company MN boosted its holdings in BG Staffing by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 59,500 shares of the business services provider’s stock worth $949,000 after acquiring an additional 15,277 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in BG Staffing by 43.5% during the 4th quarter. Wasatch Advisors Inc. now owns 161,390 shares of the business services provider’s stock worth $2,573,000 after acquiring an additional 48,901 shares during the last quarter.

BG Staffing Company Profile

BG Staffing, Inc provides temporary staffing services in the United States. It operates in three segments: Multifamily, Professional, and Commercial. The Multifamily segment offers temporary front office and maintenance personnel to the various apartment communities. The Professional segment provides skilled temporary IT professionals with expertise in SAP, Workday, Olik View, Hyperion, Oracle, project management, and other IT staffing skills, as well as finance, accounting, and related support personnel.

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