SOURCE: Staffing 360 Solutions, Inc.

Staffing 360 Solutions, Inc.

January 19, 2017 08:00 ET

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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