In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on ToughBuilt Industries (TBLT), with a price target of $2.50. The company’s shares closed last Tuesday at $0.79, close to its 52-week low of $0.62.
According to TipRanks.com, Aarde is a 5-star analyst with an average return of 27.7% and a 56.5% success rate. Aarde covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, BIO-key International, and WiMi Hologram Cloud.
ToughBuilt Industries has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.
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Based on ToughBuilt Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.84 million and GAAP net loss of $2.52 million. In comparison, last year the company earned revenue of $4.75 million and had a net profit of $7,422.
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Toughbuilt Industries, Inc. engages in the marketing and distribution of home improvement and construction product lines under TOUGHBUILT brand. It offers cliptech tool belts, pouches and bags, bags and totes, business organization, knee pads, miter saw stands and sawhorses. The company was founded by Michael Panosian and Joshua Keeler on April 9, 2012 and is headquartered in Lake Forest, CA.
