Griffin Securities Starts kforce.com (KFRC) at Buy; Consistently Generates Discretionary Free Cash Flow

Griffin Securities initiates coverage on kforce.com (NASDAQ: KFRC) with a Buy. PT $15.00.

Some highlighted points include: 1) Professional staffing placements remains more robust than all other areas of employment focus of KFRC; 2) Positioned to have meaningful earnings growth once economy emerges from lethargic growth over past 4 years; 3) Selling at an attractive 5.4X 2012 projected EBITDA of $70.6 million; 4) Produces positive discretionary free C/F year in and year out – estimating $0.74 in ’11 & $0.98 for ‘12; and 5) Has reduced net debt to zero over past several years."

For more ratings news on kforce.com click here and for the rating history of kforce.com click here.

Shares of kforce.com closed at $9.44 yesterday.

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