On Assignment (ASGN) Upgraded by Zacks Investment Research to “Buy”
On Assignment (NYSE:ASGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $75.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.63% from the stock’s current price.
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. “
Several other research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of On Assignment from $66.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, January 8th. ValuEngine raised shares of On Assignment from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co upped their price target on shares of On Assignment to $71.00 and gave the stock an “outperform” rating in a report on Friday, December 29th. SunTrust Banks reaffirmed a “buy” rating on shares of On Assignment in a report on Friday, December 8th. Finally, Robert W. Baird reissued a “hold” rating and issued a $59.00 target price on shares of On Assignment in a research note on Friday, October 27th. One 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. On Assignment currently has an average rating of “Buy” and a consensus price target of $66.50.
On Assignment (ASGN) traded down $0.31 during trading on Wednesday, hitting $66.59. 130,501 shares of the stock traded hands, compared to its average volume of 213,439. The company has a market capitalization of $3,463.68, a PE ratio of 30.97, a P/E/G ratio of 2.03 and a beta of 2.12. On Assignment has a 52-week low of $43.25 and a 52-week high of $68.29. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.66.
On Assignment (NYSE:ASGN) last released its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.08. The firm had revenue of $667.05 million for the quarter, compared to analysts’ expectations of $660.90 million. On Assignment had a net margin of 4.45% and a return on equity of 16.87%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. equities research analysts forecast that On Assignment will post 2.97 EPS for the current year.
In other news, Director Brian J. Callaghan sold 20,250 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $64.00, for a total transaction of $1,296,000.00. Following the transaction, the director now directly owns 392,930 shares of the company’s stock, valued at $25,147,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jennifer Hankes Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $63.06, for a total value of $220,710.00. Following the transaction, the senior vice president now directly owns 10,667 shares in the company, valued at $672,661.02. The disclosure for this sale can be found here. In the last three months, insiders sold 522,765 shares of company stock worth $31,020,382. 5.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Bamco Inc. NY grew its stake in shares of On Assignment by 5.5% during the third quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock valued at $102,534,000 after buying an additional 100,000 shares during the last quarter. KAMES CAPITAL plc grew its stake in shares of On Assignment by 57.2% during the fourth quarter. KAMES CAPITAL plc now owns 610,094 shares of the business services provider’s stock valued at $39,205,000 after buying an additional 222,039 shares during the last quarter. Stifel Financial Corp grew its stake in shares of On Assignment by 6.2% during the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock valued at $15,451,000 after buying an additional 16,813 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of On Assignment by 3.7% during the third quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock valued at $5,141,000 after buying an additional 3,374 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. grew its stake in shares of On Assignment by 5.5% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 45,933 shares of the business services provider’s stock valued at $2,952,000 after buying an additional 2,380 shares during the last quarter. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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