Zacks Investment Research Upgrades BG Staffing (NYSEAMERICAN:BGSF) to “Buy”

BG Staffing (NYSEAMERICAN:BGSF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $23.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.15% from the stock’s current price.

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. “

BG Staffing stock traded up $0.12 during trading on Tuesday, hitting $20.88. 49,900 shares of the company were exchanged, compared to its average volume of 62,507. The business’s 50 day moving average is $18.75 and its 200 day moving average is $19.92. BG Staffing has a 52 week low of $15.91 and a 52 week high of $28.01.

BG Staffing (NYSEAMERICAN:BGSF) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. The company had revenue of $79.36 million for the quarter, compared to the consensus estimate of $77.20 million.

A number of institutional investors have recently added to or reduced their stakes in BGSF. BlackRock Inc. boosted its position in BG Staffing by 18.3% in the second quarter. BlackRock Inc. now owns 653,982 shares of the business services provider’s stock worth $12,347,000 after purchasing an additional 101,176 shares during the last quarter. Fulcrum Equity Management raised its stake in shares of BG Staffing by 3.7% during the 3rd quarter. Fulcrum Equity Management now owns 15,117 shares of the business services provider’s stock worth $289,000 after purchasing an additional 535 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of BG Staffing by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,573 shares of the business services provider’s stock worth $2,635,000 after buying an additional 12,111 shares during the last quarter. Navellier & Associates Inc boosted its holdings in shares of BG Staffing by 3.3% in the 3rd quarter. Navellier & Associates Inc now owns 86,976 shares of the business services provider’s stock worth $1,662,000 after buying an additional 2,781 shares during the last quarter. Finally, Cadence Capital Management LLC grew its position in BG Staffing by 69.7% during the second quarter. Cadence Capital Management LLC now owns 127,225 shares of the business services provider’s stock valued at $2,402,000 after buying an additional 52,248 shares during the period.

About BG Staffing

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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