Zacks Investment Research upgraded shares of BG Staffing (NYSEAMERICAN:BGSF) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday. They currently have $30.00 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. “
Shares of BG Staffing stock opened at $26.09 on Thursday. BG Staffing has a twelve month low of $14.65 and a twelve month high of $29.59.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th will be given a $0.30 dividend. The ex-dividend date is Friday, November 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.60%.
In other BG Staffing news, Director Richard L. Baum, Jr. sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $28.00, for a total value of $392,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Baum, Jr. sold 1,598 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $28.00, for a total transaction of $44,744.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,406 shares of company stock worth $5,853,197.
A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in BG Staffing by 946.6% in the third quarter. American Century Companies Inc. now owns 154,591 shares of the business services provider’s stock valued at $4,205,000 after buying an additional 139,820 shares in the last quarter. Wells Fargo & Company MN boosted its position in BG Staffing by 34.1% in the third quarter. Wells Fargo & Company MN now owns 46,041 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 11,719 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of BG Staffing in the third quarter worth about $466,000. Financial Gravity Wealth Inc. bought a new position in shares of BG Staffing in the third quarter worth about $224,000. Finally, Acadian Asset Management LLC raised its stake in shares of BG Staffing by 44.6% in the third quarter. Acadian Asset Management LLC now owns 245,353 shares of the business services provider’s stock worth $6,673,000 after acquiring an additional 75,625 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.
Featured Story: What are earnings reports?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BG Staffing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BG Staffing and related companies with MarketBeat.com's FREE daily email newsletter.