Daseke Inc (DSKE) Gets a Buy Rating from Northland Securities

By Jason Carr

In a report released today, Greg Gibas from Northland Securities initiated coverage with a Buy rating on Daseke Inc (DSKEResearch Report) and a price target of $8.50. The company’s shares closed yesterday at $5.14.

Gibas said:

“We are assuming coverage of DSKE with an Outperform rating and a lower $8.50 price target. We believe DSKE’s growing network of operators with long-term blue chip customer relationships across a diverse set of end markets will continue to provide a solid foundation for sustainable growth going forward. We also expect the company’s disciplined acquisition strategy to support long-term benefits of scale. Key Points DSKE’s better than expected Q1:19 results featured 32% revenue growth (7% organic) and 24% EBITDA growth (5% organic), primarily resulting from strength in the Specialized segment which benefited from 35% growth in rate per mile and 13% growth in revenue per tractor. We expect continued strength from many large-scale capital projects including wind energy to support solid performance in the Specialized segment going forward.”

According to TipRanks.com, Gibas is ranked #4285 out of 5178 analysts.

Daseke Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.75, a 31.3% upside from current levels. In a report issued on May 6, Cowen & Co. also maintained a Buy rating on the stock with a $6.50 price target.

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Based on Daseke Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $433 million and GAAP net loss of $9.3 million. In comparison, last year the company had a GAAP net loss of $797K.

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Daseke, Inc. engages in the provision of transportation and logistics solutions. It operates through the Flatbed Solutions and Specialized Solutions segments. The Flatbed Solutions segment delivers its services through flatbed and retractable-sided transportation equipment to meet the needs of high-volume and time-sensitive shippers.