Zacks Investment Research upgraded shares of On Assignment, Inc. (NASDAQ:ASGN) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $67.00 price target on the stock.
According to Zacks, “On Assignment, Inc., through its first operating division, Lab Support, is a leading nationwide provider of temporary scientific professionals to laboratories in the biotechnology, pharmaceutical, food and beverage, chemical, and environmental industries. The company’s strategy is to serve the needs of targeted industries for quality assignments of temporary professionals. “
Other research analysts have also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of On Assignment from $54.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, July 14th. BidaskClub upgraded shares of On Assignment from a sell rating to a hold rating in a research report on Friday, September 1st. Robert W. Baird reaffirmed a hold rating and issued a $53.00 target price on shares of On Assignment in a research note on Sunday, September 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $55.00 target price on shares of On Assignment in a research note on Friday, October 13th. Finally, Deutsche Bank AG upped their target price on On Assignment from $57.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, October 26th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. On Assignment has a consensus rating of Buy and a consensus price target of $59.50.
Shares of On Assignment (NASDAQ ASGN) opened at 59.05 on Friday. On Assignment has a 1-year low of $33.93 and a 1-year high of $60.44. The stock has a 50 day moving average of $53.99 and a 200-day moving average of $51.81. The firm has a market capitalization of $3.12 billion and a P/E ratio of 28.99.
On Assignment (NASDAQ:ASGN) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.08. On Assignment had a return on equity of 14.70% and a net margin of 5.09%. The firm had revenue of $667.05 million for the quarter, compared to analysts’ expectations of $660.90 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that On Assignment will post $2.96 earnings per share for the current year.
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In other On Assignment news, insider Jeffrey E. Veatch sold 48,480 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was 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 owns 392,938 shares of the company’s stock, valued at $22,094,903.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey E. Veatch sold 1,520 shares of the company’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 disclosure for this sale can be found here. In the last ninety days, insiders sold 276,532 shares of company stock valued at $15,937,442.
A number of institutional investors and hedge funds have recently modified their holdings of ASGN. UBS Asset Management Americas Inc. boosted its stake in On Assignment by 39.8% in the first quarter. UBS Asset Management Americas Inc. now owns 30,294 shares of the company’s stock worth $1,470,000 after buying an additional 8,623 shares in the last quarter. Victory Capital Management Inc. boosted its stake in On Assignment by 15.1% in the first quarter. Victory Capital Management Inc. now owns 4,425 shares of the company’s stock worth $215,000 after buying an additional 580 shares in the last quarter. FMR LLC boosted its stake in On Assignment by 0.5% in the first quarter. FMR LLC now owns 387,510 shares of the company’s stock worth $18,806,000 after buying an additional 1,900 shares in the last quarter. Teachers Advisors LLC boosted its stake in On Assignment by 8.6% in the first quarter. Teachers Advisors LLC now owns 362,218 shares of the company’s stock worth $17,578,000 after buying an additional 28,799 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in On Assignment by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 256,911 shares of the company’s stock worth $12,468,000 after buying an additional 25,355 shares in the last quarter.
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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