NEW YORK, NY--(Marketwired - March 30, 2016) - Greenridge Global Equity Research has initiated coverage on Staffing 360 Solutions, Inc. (
Greenridge Global's Report can be viewed at: http://tinyurl.com/h7lajjg
Staffing 360 Solutions focuses on staffing companies located in the United States and abroad in the United Kingdom that service one or more of its five pillars: Accounting & Finance, IT, Engineering, Administration and Light Industrial. Staffing 360 Solutions looks for acquisition candidates that are located in the same geographic region, have a strong owner/operator, and are larger, in size, in terms of revenue (targeting at least $20 million in annual revenue).
In Greenridge Global's report, analyst, William Gregozeski, CFA, highlighted a number of key points to consider when reviewing Staffing 360 Solutions:
William Gregozeski said in his valuation of Staffing 360 Solutions, "We are initiating coverage of Staffing 360 Solutions with a Buy rating and $6.00 target price. Despite showing above average organic industry growth rates, the Company is valued at a significant discount to its peers, especially on an EV/Revenue basis. While it looks fairly priced on a trailing EV/aEBITDA metric, we note it is skewed given STAF's recent move to positive aEBITDA and expect the continued growth in aEBITDA will be reflected with a higher stock price. We believe the Company will continue to trade at discounts to its peers until it works through it cash obligations and increases its aEBITDA margin. Our target price is based on an EV/aEBITDA multiple of 7.0 times our forward twelve month aEBITDA estimate of $6.65 million."
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