Zacks Investment Research upgraded shares of On Assignment (NYSE:ASGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $75.00 target price on the business services provider’s stock.
According to Zacks, “On Assignment, Inc. is one of the foremost providers of in-demand, highly skilled professionals in the technology, digital, creative, healthcare technology, and life sciences sectors. On Assignment, Inc. go beyond simply matching resumes with open jobs; they focus on matching talented people who have the right level of experience with jobs where they can contribute and grow their careers. On Assignment, Inc. manage best of breed companies and help them grow and succeed. On Assignment’s mission is to help organizations thrive and empower people to build rewarding careers by putting highly skilled professionals to work exactly when and where they are needed. Professionals think of On Assignment as career-building partners with the depth and breadth of experience to help them reach their goals. “
ASGN has been the topic of several other reports. BMO Capital Markets raised their price objective on shares of On Assignment from $62.00 to $66.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Royal Bank of Canada reissued a buy rating and set a $55.00 price objective on shares of On Assignment in a research report on Friday, October 13th. BidaskClub raised shares of On Assignment from a buy rating to a strong-buy rating in a research report on Wednesday, September 27th. Robert W. Baird reissued a hold rating and set a $53.00 price objective on shares of On Assignment in a research report on Friday, October 6th. Finally, ValuEngine raised shares of On Assignment from a hold rating to a buy rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $66.50.
On Assignment (ASGN) traded down $0.31 during midday trading on Wednesday, hitting $66.59. 130,501 shares of the company were exchanged, compared to its average volume of 213,439. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a market cap of $3,463.68, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 2.03 and a beta of 2.12. On Assignment has a 1 year low of $43.25 and a 1 year high of $68.29.
On Assignment (NYSE:ASGN) last posted its earnings results on Wednesday, October 25th. The business services provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. The firm had revenue of $667.05 million for the quarter, compared to the consensus estimate of $660.90 million. On Assignment had a net margin of 4.45% and a return on equity of 16.87%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. equities analysts expect that On Assignment will post 2.97 earnings per share for the current year.
In other On Assignment news, CEO Peter T. Dameris sold 24,911 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $59.13, for a total transaction of $1,472,987.43. Following the transaction, the chief executive officer now directly owns 100,086 shares of the company’s stock, valued at approximately $5,918,085.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey E. Veatch sold 48,480 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $56.23, for a total transaction of $2,726,030.40. Following the transaction, the insider now directly owns 392,938 shares in the company, valued at $22,094,903.74. The disclosure for this sale can be found here. Insiders have sold a total of 522,765 shares of company stock worth $31,020,382 over the last three months. 5.40% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its stake in shares of On Assignment by 5.5% in the 3rd quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock worth $102,534,000 after acquiring an additional 100,000 shares during the period. KAMES CAPITAL plc lifted its stake in shares of On Assignment by 57.2% in the 4th quarter. KAMES CAPITAL plc now owns 610,094 shares of the business services provider’s stock worth $39,205,000 after acquiring an additional 222,039 shares during the period. Stifel Financial Corp lifted its stake in shares of On Assignment by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock worth $15,451,000 after acquiring an additional 16,813 shares during the period. California Public Employees Retirement System lifted its stake in shares of On Assignment by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock worth $5,141,000 after acquiring an additional 3,374 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of On Assignment by 5.5% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 45,933 shares of the business services provider’s stock worth $2,952,000 after acquiring an additional 2,380 shares during the period. Institutional investors own 90.15% of the company’s stock.
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About On Assignment
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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