On Assignment, Inc. (ASGN) Given $54.17 Average Price Target by Brokerages
Shares of On Assignment, Inc. (NASDAQ:ASGN) have earned a consensus broker rating score of 1.43 (Strong Buy) from the seven brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has assigned a buy rating and five have assigned a strong buy rating to the company. On Assignment’s rating score has declined by 10.9% from 90 days ago as a result of a number of analysts’ ratings changes.
Analysts have set a 12-month consensus price target of $54.17 for the company and are anticipating that the company will post $0.72 EPS for the current quarter, according to Zacks. Zacks has also given On Assignment an industry rank of 55 out of 265 based on the ratings given to related companies.
A number of research analysts have issued reports on ASGN shares. Zacks Investment Research raised shares of On Assignment from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Friday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $55.00 target price (up from $52.00) on shares of On Assignment in a report on Thursday, April 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $57.00 target price (up from $51.00) on shares of On Assignment in a report on Friday, April 28th.
On Assignment (NASDAQ ASGN) traded up 1.77% during midday trading on Thursday, reaching $54.64. The company had a trading volume of 133,071 shares. The firm’s 50 day moving average is $53.15 and its 200 day moving average is $48.37. On Assignment has a 1-year low of $32.05 and a 1-year high of $55.15. The stock has a market capitalization of $2.89 billion and a PE ratio of 28.61.
On Assignment (NASDAQ:ASGN) last issued its earnings results on Wednesday, April 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. On Assignment had a net margin of 3.57% and a return on equity of 10.23%. The company had revenue of $626.53 million during the quarter, compared to analysts’ expectations of $619.83 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that On Assignment will post $2.89 EPS for the current fiscal year.
In other news, insider Theodore S. Hanson sold 5,325 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $52.13, for a total value of $277,592.25. Following the sale, the insider now directly owns 289,672 shares in the company, valued at $15,100,601.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey E. Veatch sold 100,000 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $49.29, for a total transaction of $4,929,000.00. Following the completion of the sale, the insider now owns 671,362 shares in the company, valued at $33,091,432.98. The disclosure for this sale can be found here. Insiders sold 620,344 shares of company stock worth $31,939,562 over the last quarter.
Several hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP raised its stake in On Assignment by 266.2% in the first quarter. FNY Partners Fund LP now owns 2,197 shares of the company’s stock valued at $106,000 after buying an additional 1,597 shares in the last quarter. Tyers Asset Management LLC raised its stake in On Assignment by 13.0% in the first quarter. Tyers Asset Management LLC now owns 2,436 shares of the company’s stock valued at $118,000 after buying an additional 280 shares in the last quarter. Flinton Capital Management LLC raised its stake in On Assignment by 13.0% in the first quarter. Flinton Capital Management LLC now owns 2,958 shares of the company’s stock valued at $144,000 after buying an additional 340 shares in the last quarter. Quantbot Technologies LP acquired a new stake in On Assignment during the first quarter valued at approximately $154,000. Finally, Genesee Valley Trust Co. acquired a new stake in On Assignment during the first quarter valued at approximately $208,000.
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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