On Assignment (ASGN) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of On Assignment (NYSE:ASGN) from a hold rating to a buy rating in a report published on Sunday.
Several other analysts have also commented on ASGN. Robert W. Baird reaffirmed a hold rating and issued a $59.00 price target on shares of On Assignment in a research note on Friday, October 27th. Wells Fargo & Co boosted their price target on On Assignment to $71.00 and gave the company an outperform rating in a research note on Friday. BidaskClub upgraded On Assignment from a buy rating to a strong-buy rating in a research report on Wednesday, September 27th. BMO Capital Markets lifted their price objective on On Assignment from $61.00 to $62.00 and gave the company an outperform rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded On Assignment from a sell rating to a hold rating in a research report on Friday, September 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $64.00.
Shares of On Assignment (NYSE ASGN) opened at $64.27 on Friday. 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 company has a market capitalization of $3,343.00, a price-to-earnings ratio of 29.89, a P/E/G ratio of 2.17 and a beta of 2.12. On Assignment has a one year low of $42.95 and a one year high of $65.73.
On Assignment (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.08. The business had revenue of $667.05 million for the quarter, compared to analyst estimates of $660.90 million. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. On Assignment’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. equities analysts forecast that On Assignment will post 2.97 earnings per share for the current year.
In other On Assignment news, insider Jeffrey E. Veatch sold 1,520 shares of On Assignment stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $56.01, for a total value of $85,135.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter T. Dameris sold 24,911 shares of On Assignment stock in a transaction on Monday, October 30th. The shares were sold at an average price of $59.13, for a total value of $1,472,987.43. Following the completion of the transaction, the chief executive officer now owns 100,086 shares of the company’s stock, valued at approximately $5,918,085.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 524,285 shares of company stock valued at $31,105,517. Corporate insiders own 5.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ASGN. Pinebridge Investments L.P. raised its position in shares of On Assignment by 12.5% during the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock worth $1,393,000 after acquiring an additional 2,879 shares during the last quarter. California Public Employees Retirement System raised its position 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 worth $5,141,000 after acquiring an additional 3,374 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of On Assignment during the third quarter worth $280,000. Cubist Systematic Strategies LLC bought a new stake in shares of On Assignment during the third quarter worth $419,000. Finally, Stifel Financial Corp raised its position 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 worth $15,451,000 after acquiring an additional 16,813 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.
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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