Zacks: Brokerages Set $20.40 Target Price for BG Staffing Inc (BGSF)
BG Staffing Inc (NASDAQ:BGSF) has been given an average broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.
Brokers have set a 12 month consensus price objective of $20.40 for the company and are anticipating that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BG Staffing an industry rank of 235 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of BG Staffing from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, July 21st.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its stake in BG Staffing by 7.5% during the second quarter. Acadian Asset Management LLC now owns 133,468 shares of the company’s stock worth $2,318,000 after purchasing an additional 9,362 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in BG Staffing during the second quarter worth about $426,000. Schwab Charles Investment Management Inc. bought a new position in BG Staffing during the second quarter worth about $192,000. Boston Partners bought a new position in BG Staffing during the second quarter worth about $619,000. Finally, Bank of New York Mellon Corp lifted its stake in BG Staffing by 19.8% during the second quarter. Bank of New York Mellon Corp now owns 117,451 shares of the company’s stock worth $2,041,000 after purchasing an additional 19,440 shares during the period.
BG Staffing (NASDAQ:BGSF) traded up 2.30% on Friday, hitting $16.93. The company had a trading volume of 42,904 shares. The firm’s 50 day moving average price is $15.71 and its 200 day moving average price is $15.94. The stock has a market cap of $148.29 million and a P/E ratio of 18.32. BG Staffing has a 12-month low of $11.23 and a 12-month high of $18.85.
BG Staffing (NASDAQ:BGSF) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. BG Staffing had a return on equity of 22.69% and a net margin of 3.32%. The company had revenue of $68.77 million for the quarter, compared to the consensus estimate of $70.05 million. Equities analysts predict that BG Staffing will post $1.02 earnings per share for the current fiscal year.
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.
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