BG Staffing (NYSEAMERICAN: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 research report report published on Monday, Zacks.com reports. The firm currently has $21.00 price target 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 $18.36 on Monday. BG Staffing has a 1 year low of $15.91 and a 1 year high of $29.59.

BG Staffing (NYSEAMERICAN:BGSF) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.14. The business had revenue of $73.86 million for the quarter, compared to the consensus estimate of $74.57 million.

The firm also recently announced a dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 9th.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of BG Staffing by 1,326.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,754 shares of the business services provider’s stock valued at $38,000 after buying an additional 1,631 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of BG Staffing by 28.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,727 shares of the business services provider’s stock valued at $50,000 after buying an additional 610 shares in the last quarter. MUFG Americas Holdings Corp bought a new stake in shares of BG Staffing in the 2nd quarter valued at about $79,000. Bank of America Corp DE boosted its holdings in shares of BG Staffing by 7.7% in the 4th quarter. Bank of America Corp DE now owns 9,216 shares of the business services provider’s stock valued at $190,000 after buying an additional 660 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of BG Staffing in the 2nd quarter valued at about $193,000.

BG Staffing Company Profile

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

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