In a report released yesterday, Zach Cummins from B.Riley FBR reiterated a Buy rating on GP Strategies (GPX), with a price target of $21. The company’s shares closed yesterday at $12.63, close to its 52-week low of $12.50.
Cummins observed:
“After the market close on Wednesday, 12/5, GP Strategies (GPX) announced the acquisition of TTi Global, a provider of training, staffing, research, and consulting solutions to the global automotive industry and other key sectors. TTi bolsters GPX’s global presence and expertise in the automotive industry, which represented approximately 21% of total revenues for GPX 3Q18. With an expected annual revenue run-rate of $50M, the acquisition of TTi represents an important first step in GPX’s progress towards its FY20 and FY22 financial targets that were introduced at the company’s analyst and investor day in October.”
According to TipRanks.com, Cummins has 0 stars on 0-5 star ranking scale with an average return of -16.8% and a 20.0% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, American Software, and ChannelAdvisor.
Currently, the analyst consensus on GP Strategies is a Strong Buy with an average price target of $21, implying a 66.3% upside from current levels. In a report released yesterday, Barrington also reiterated a Buy rating on the stock with a $20 price target.
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Based on GP Strategies’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.24 million. In comparison, last year the company had a net profit of $3.28 million.
Based on the recent corporate insider activity of 48 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 GPX in relation to earlier this year.
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GP Strategies Corp. provides training, e-Learning solutions, management consulting and engineering services. It operates through the following segments: Learning Solutions, Professional & Technical Services, Sandy Training & Marketing, and Performance Readiness Solutions.
