On Assignment, Inc. (ASGN) Receives Average Recommendation of “Buy” from Brokerages
Shares of On Assignment, Inc. (NYSE:ASGN) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $61.50.
ASGN has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on On Assignment from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. BidaskClub cut On Assignment from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BMO Capital Markets increased their price objective on On Assignment from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded On Assignment from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Friday, October 27th. Finally, ValuEngine raised On Assignment from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd.
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In other On Assignment news, insider Jeffrey E. Veatch sold 1,520 shares of the firm’s stock in a transaction that occurred 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 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 that occurred on Wednesday, October 18th. The shares were sold at an average price of $56.23, for a total value of $2,726,030.40. Following the completion of the sale, the insider now directly owns 392,938 shares of the company’s stock, valued at approximately $22,094,903.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 421,273 shares of company stock valued at $24,710,774. 5.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ASGN. Stifel Financial Corp boosted its position in On Assignment by 6.2% in the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock worth $15,451,000 after purchasing an additional 16,813 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of On Assignment in the third quarter valued at $419,000. Finally, Pinebridge Investments L.P. raised its stake in shares of On Assignment by 12.5% in the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock valued at $1,393,000 after buying an additional 2,879 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.
On Assignment (ASGN) opened at $61.50 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57. On Assignment has a 12-month low of $39.52 and a 12-month high of $61.89. The stock has a market capitalization of $3,184.35, a P/E ratio of 21.41, a P/E/G ratio of 2.06 and a beta of 2.12.
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 analysts’ consensus estimates of $0.75 by $0.08. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The firm had revenue of $667.05 million during the quarter, compared to the consensus estimate of $660.90 million. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s revenue was up 6.0% on a year-over-year basis. research analysts anticipate that On Assignment will post 2.97 earnings per share for the current fiscal year.
On Assignment Company Profile
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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