On Assignment (ASGN) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of On Assignment (NYSE:ASGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $75.00 price target on the business services provider’s stock.
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. “
ASGN has been the subject of several other research reports. BMO Capital Markets raised their target price on shares of On Assignment from $62.00 to $66.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Royal Bank of Canada reiterated a buy rating and issued a $55.00 price objective on shares of On Assignment in a research note on Friday, October 13th. BidaskClub upgraded shares of On Assignment from a buy rating to a strong-buy rating in a research note on Wednesday, September 27th. Robert W. Baird reiterated a hold rating and issued a $53.00 price objective on shares of On Assignment in a research note on Friday, October 6th. Finally, ValuEngine upgraded shares of On Assignment from a hold rating to a buy rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $66.50.
On Assignment (NYSE:ASGN) last released its earnings results on Wednesday, October 25th. The business services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.08. On Assignment had a net margin of 4.45% and a return on equity of 16.87%. The company had revenue of $667.05 million during the quarter, compared to analysts’ expectations of $660.90 million. During the same quarter last year, the business earned $0.74 EPS. The business’s revenue was up 6.0% on a year-over-year basis. equities research analysts forecast that On Assignment will post 2.97 earnings per share for the current year.
In other On Assignment news, CFO Edward L. Pierce sold 1,054 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $61.15, for a total transaction of $64,452.10. Following the completion of the transaction, the chief financial officer now directly owns 77,087 shares in the company, valued at approximately $4,713,870.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey E. Veatch sold 74,894 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $56.53, for a total transaction of $4,233,757.82. Following the transaction, the insider now owns 392,938 shares of the company’s stock, valued at $22,212,785.14. The disclosure for this sale can be found here. Insiders sold 522,765 shares of company stock valued at $31,020,382 in the last quarter. Company insiders own 5.40% of the company’s stock.
A number of large investors have recently bought and sold shares of ASGN. Aurora Investment Counsel purchased a new position in On Assignment during the 4th quarter valued at about $268,000. Janney Montgomery Scott LLC purchased a new position in On Assignment during the 3rd quarter valued at about $280,000. Cubist Systematic Strategies LLC purchased a new position in On Assignment during the 3rd quarter valued at about $419,000. Insight Capital Research & Management Inc. purchased a new position in On Assignment during the 3rd quarter valued at about $953,000. Finally, Pinebridge Investments L.P. increased its holdings in On Assignment by 12.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock valued at $1,393,000 after acquiring an additional 2,879 shares in the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
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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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