BG Staffing Inc (BGSF) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of BG Staffing Inc (NASDAQ:BGSF) from a buy rating to a hold rating in a research note issued to investors on Monday, July 24th.

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. “

Separately, TheStreet upgraded shares of BG Staffing from a c rating to an a rating in a research report on Friday, May 5th.

Shares of BG Staffing (BGSF) traded up 1.34% on Monday, reaching $15.10. 17,124 shares of the company traded hands. The company has a 50-day moving average of $17.10 and a 200-day moving average of $15.58. BG Staffing has a 1-year low of $11.23 and a 1-year high of $18.85. The stock has a market capitalization of $132.26 million and a price-to-earnings ratio of 16.34.

BG Staffing (NASDAQ:BGSF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $68.77 million for the quarter, compared to analyst estimates of $70.05 million. BG Staffing had a net margin of 2.29% and a return on equity of 13.02%. Analysts anticipate that BG Staffing will post $1.02 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “BG Staffing Inc (BGSF) Downgraded by Zacks Investment Research to “Hold”” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://stocknewstimes.com/2017/08/12/bg-staffing-inc-bgsf-lowered-to-hold-at-zacks-investment-research-updated-updated.html.

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were given a dividend of $0.25 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.00 annualized dividend and a yield of 6.62%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in BG Staffing by 7.5% in the second quarter. Acadian Asset Management LLC now owns 133,468 shares of the company’s stock valued at $2,318,000 after buying an additional 9,362 shares in the last quarter. Vanguard Group Inc. raised its stake in BG Staffing by 7.1% in the second quarter. Vanguard Group Inc. now owns 334,160 shares of the company’s stock valued at $5,808,000 after buying an additional 22,254 shares in the last quarter. Northern Trust Corp raised its stake in BG Staffing by 81.7% in the second quarter. Northern Trust Corp now owns 24,589 shares of the company’s stock valued at $428,000 after buying an additional 11,059 shares in the last quarter. Menta Capital LLC raised its stake in BG Staffing by 5.0% in the second quarter. Menta Capital LLC now owns 20,042 shares of the company’s stock valued at $348,000 after buying an additional 950 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in BG Staffing during the second quarter valued at approximately $129,000.

BG Staffing Company Profile

BG Staffing, Inc (BG Staffing) is a provider of temporary staffing services. The Company provides temporary workers to a range of customers that are seeking to match their workforce requirements to their business needs. Its customers operate across a diverse set of industries. The Company’s operations are organized into three segments: Commercial, Multifamily and Professional.

Get a free copy of the Zacks research report on BG Staffing (BGSF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for BG Staffing Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BG Staffing Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply