On Assignment (NYSE:ASGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, April 25th. The firm currently has a $92.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.18% from the stock’s current price.
According to Zacks, “ASGN Incorporated provides IT and professional services primarily in the technology, creative/digital, engineering, life sciences and government sectors. ASGN Incorporated, formerly known as On Assignment Inc., is based California, United States. “
ASGN has been the topic of several other reports. Wells Fargo raised their price target on shares of On Assignment from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. ValuEngine raised shares of On Assignment from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks raised their target price on shares of On Assignment to $88.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets raised their target price on shares of On Assignment from $66.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. Finally, Deutsche Bank raised their target price on shares of On Assignment from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. On Assignment has an average rating of “Buy” and a consensus price target of $81.57.
On Assignment opened at $83.50 on Wednesday, Marketbeat Ratings reports. On Assignment has a 12-month low of $82.36 and a 12-month high of $82.96. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 2.03 and a beta of 1.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 3.02.
On Assignment (NYSE:ASGN) last released its quarterly earnings results on Wednesday, April 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.08. On Assignment had a net margin of 6.12% and a return on equity of 17.99%. The company had revenue of $685.20 million for the quarter, compared to analysts’ expectations of $677.66 million. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities research analysts expect that On Assignment will post 4.1 EPS for the current fiscal year.
In related news, CEO Peter T. Dameris sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $82.44, for a total value of $1,545,750.00. Following the transaction, the chief executive officer now owns 151,621 shares in the company, valued at $12,499,635.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marty R. Kittrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $76.24, for a total transaction of $152,480.00. Following the completion of the transaction, the director now owns 4,946 shares in the company, valued at approximately $377,083.04. The disclosure for this sale can be found here. Insiders sold 139,850 shares of company stock worth $10,974,427 in the last 90 days. 3.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ASGN. We Are One Seven LLC purchased a new position in On Assignment in the fourth quarter valued at approximately $163,000. Public Employees Retirement Association of Colorado purchased a new position in On Assignment in the fourth quarter valued at approximately $192,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in On Assignment by 38.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,099 shares of the business services provider’s stock valued at $199,000 after buying an additional 857 shares during the period. Everence Capital Management Inc. purchased a new position in On Assignment in the fourth quarter valued at approximately $217,000. Finally, M&T Bank Corp purchased a new position in On Assignment in the fourth quarter valued at approximately $218,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.
About On Assignment
ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.
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