BG STAFFING, INC.
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Report Link: Updated Research Report (Dated 11/08/2019)
Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $24.00
Time Horizon: 12 Months
Rating Established: November 5, 2015
Price When Established: $13.99
Most Recent Report: November 8, 2019
Price When Issued: $21.17
BG Staffing, Inc. Reports 2019 Results
On March 12, 2020, BG Staffing, Inc. reported 2019 results for the twelve-months ended December 31, 2019.
BGSF reported 2019 net income of $13.2 million or $1.28 per share, on 2.6% revenue growth to $294.3 million from $286.9 million. In 2018, the company reported net income of $17.6 million or $1.79 per share, which included a one-time contingent consideration gain of nearly $3.8 million.
Taglich Brothers estimated 2019 revenues of $292.7 million and net income of $13.6 million or $1.32 per share.
BG Staffing Acquires EdgeRock Technology Partners
On February 4, 2020, BG Staffing announced it acquired privately held EdgeRock Technology Partners. EdgeRock, headquarter in Boston Massachusetts, is a provider of specialized IT consultants solving mission critical issues for US clients in 40 US states through three regional offices in Boston, Phoenix, and Tampa. BGSF paid $21.6 million cash, which was financed from BGSF’s existing credit facility.
In 2019, EdgeRock Technology Partners reported unaudited revenues of approximately $41 million.
BG Staffing Acquires L.J. Kushner & Associates
On December 16, 2019, BG Staffing announced it acquired L.J. Kushner & Associates, a privately held executive search and professional recruitment firm exclusively for the Information Security industry and its professionals. BGSF paid $ 8.5 million cash and issued $1 million in common stock, subject to a working capital adjustment. The agreement also provides for earn-out payments of up to $2.5 million, provided certain conditions are met over a two-year period.
In 2018, L.J. Kushner & Associates generated revenues of approximately $3.3 million.
BG Staffing, Inc., headquartered in Plano, Texas, provides staffing services to a variety of industries through its commercial, multifamily, and professional staffing operating segments. The company is a national, temporary staffing company that provides workers to a variety of clients seeking to match their workforce requirements to their business needs.
Company ReportsResearch Update Released (Dated November 8, 2019)
Research Update Released (Dated August 14, 2019)
Research Update Released (Dated May 20, 2019)
Research Update Released (Dated March 20, 2019)
Research Update Released (Dated November 6, 2018)
Research Update Released (Dated August 3, 2018)
Research Update Released (Dated June 18, 2018)
Research Update Released (Dated March 16, 2018)
Research Update Released (Dated November 6, 2017)
Research Update Released (Dated August 8, 2017)
Research Update Released (Dated May 9, 2017)
Research Update Released (Dated March 13, 2017)
Research Update Released (Dated November 3, 2016)
Research Update Released (Dated August 16, 2016)
Initial Research Report (Dated November 5, 2015)
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