PRGX Global (PRGX) Receives a Buy from Barrington

By Jason Carr

In a report released today, Alexander Paris from Barrington reiterated a Buy rating on PRGX Global (NASDAQ: PRGX), with a price target of $13. The company’s shares opened today at $9.

Paris commented:

“We now expect third quarter revenue of $45.1 million, up 6.2% from $42.5 million last year, but below our prior estimate of $46.1 million; adjusted EBITDA, which excludes one‐time items, foreign currency gains/losses on intercompany balances and stock‐based comp, of $5.7 million, down 10.3% YOY, and below our prior estimate of $6.3 million; and diluted earnings per share of $0.04, down 20.0% from $0.05 last year, and below our prior estimate of $0.07. The FactSet consensus, adjusted for our changes, now calls for revenue of $44.8 million (+5.4% YOY), adjusted EBITDA of $5.7 million (‐10.3% YOY) and diluted earnings per share of $0.03 (‐40.0% YOY).”

According to TipRanks.com, Paris is a 4-star analyst with an average return of 11.7% and a 54.8% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Franklin Covey Company.

PRGX Global has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

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PRGX Global’s market cap is currently $211.2M and has a P/E ratio of 329.67. The company has a Price to Book ratio of 3.65.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRGX in relation to earlier this year.

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PRGX Global, Inc. is a business analytics and information services company. It operates through following segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific, and Adjacent Services. The Recovery Audit Services -Americas segment provides recovery audit services in U.S., Canada and Latin America.