On Assignment (ASGN) Price Target Raised to $73.00

On Assignment (NYSE:ASGN) had its price target boosted by stock analysts at BMO Capital Markets from $66.00 to $73.00 in a research note issued on Monday, The Fly reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 11.88% from the company’s current price.

A number of other research analysts also recently weighed in on the company. SunTrust Banks reissued a “buy” rating on shares of On Assignment in a research note on Friday, December 8th. Zacks Investment Research downgraded On Assignment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada raised their price objective on On Assignment from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Robert W. Baird reissued a “hold” rating and issued a $53.00 price objective on shares of On Assignment in a research note on Friday, October 6th. Finally, Deutsche Bank raised their price objective on On Assignment from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.17.

On Assignment (ASGN) opened at $65.25 on Monday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. On Assignment has a one year low of $42.95 and a one year high of $65.73. The firm has a market capitalization of $3,393.97, a P/E ratio of 30.35, a P/E/G ratio of 2.05 and a beta of 2.12.

On Assignment (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The business had revenue of $667.05 million for the quarter, compared to the consensus estimate of $660.90 million. During the same period last year, the business earned $0.74 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. research analysts predict that On Assignment will post 2.97 earnings per share for the current fiscal year.

In other On Assignment news, insider Jeffrey E. Veatch sold 1,520 shares of On Assignment 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 filing with the SEC, which is available through this link. Also, insider Jeffrey E. Veatch sold 48,480 shares of On Assignment 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 transaction, the insider now directly owns 392,938 shares in the company, valued at $22,094,903.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 524,285 shares of company stock worth $31,105,517. Company insiders own 5.40% of the company’s stock.

Several large investors have recently made changes to their positions in ASGN. Aurora Investment Counsel acquired a new stake in shares of On Assignment during the 4th quarter worth approximately $268,000. Janney Montgomery Scott LLC acquired a new stake in shares of On Assignment during the 3rd quarter worth approximately $280,000. Cubist Systematic Strategies LLC acquired a new stake in shares of On Assignment during the 3rd quarter worth approximately $419,000. Insight Capital Research & Management Inc. acquired a new stake in shares of On Assignment during the 3rd quarter worth approximately $953,000. Finally, Pinebridge Investments L.P. grew its holdings in shares of 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 worth $1,393,000 after purchasing an additional 2,879 shares in the last quarter. 90.15% of the stock is currently owned by institutional investors.

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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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