Greenridge Global Issues Research Report with Buy Rating and $3 Price Target on Staffing 360 Solutions, Inc.
January 19 2017 - 8:00AM
Marketwired
Greenridge Global Issues Research Report with Buy Rating and $3
Price Target on Staffing 360 Solutions, Inc.
NEW YORK, NY-(Marketwired - January 19, 2017) - Staffing 360
Solutions, Inc. (NASDAQ: STAF), an international staffing services
provider, announced its fiscal second quarter numbers last week,
and after the company detailed double-digit growth in almost all
categories, Greenridge Global Equity Research updated its coverage
of the company. In its latest report, Greenridge Global maintained
its Buy rating for Staffing 360 Solutions and released a $3.00
price target.
The Greenridge Global report can be viewed at:
http://ow.ly/qUNR3088HQF
In Greenridge Global's recent coverage, analyst, William
Gregozeski, CFA, highlighted a number of key points, including the
latest revenue and gross profit figures, progress the Company has
made with its balance sheet and recent refinancing of over $2
million in debt.
"Staffing 360 Solutions posted another quarter of improving
operational results," stated William Gregozeski in his latest
research report on STAF. "With the terms of the amended debt and
the ongoing Series E offering, it looks like the Company should
have more capital and flexibility to make acquisitions and generate
more cash to pay down existing debt. With continued positive
developments we are reiterating our Buy rating and $3.00 target
price on Staffing 360 Solutions. Our target price is based on an
EV/aEBITDA multiple of roughly 6.0 times our forward twelve month
aEBITDA estimate of $6.3 million."
Greenridge Global's research report reflects Staffing 360's
various improvements in its most recent quarterly financials. A
summary of Staffing 360's financial results is presented below:
Summary of the Fiscal Second Quarter Ended November 30, 2016
- Revenue increased 14.0% to $47.1 million, compared to $41.4
million in the fiscal quarter ended November 30, 2015;
- Gross profit increased 8.4% to $8.1 million, compared to $7.5
million in the fiscal quarter ended November 30, 2015;
- Net loss attributable to common stock decreased 57.0% to $1.5
million*, compared to $3.4 million* in the fiscal quarter ended
November 30, 2015;
- Adjusted EBITDA increased 10.1% to $1.4 million*, compared to
Adjusted EBITDA of $1.3 million* in the fiscal quarter ended
November 30, 2015.
Read the latest Greenridge Global Report here:
http://ow.ly/qUNR3088HQF
To be added to Greenridge Global's distribution list, please
contact: research@greenridgeglobal.com
About Greenridge Global
Greenridge Global is a Chicago, Illinois-based equity research
firm that focuses on uncovering small cap companies with a deep
value base and outsized growth potential. Greenridge Global covers
companies listed in various exchanges around the world and provides
proprietary investment ideas, consulting services, due diligence
reports and company presentations. Greenridge does not, and will
not, engage in paid-for research. The firm distributes its research
directly to investors; through all major distribution channels,
including Bloomberg, Capital IQ, FactSet, Morningstar, Thomson
Reuters and Zack's; and through select third party research
distribution arrangements. To learn more, please visit:
www.greenridgeglobal.com
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