On Assignment, Inc. (ASGN) Stock Rating Upgraded by Zacks Investment Research
On Assignment, Inc. (NASDAQ:ASGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
Several other research firms have also commented on ASGN. BMO Capital Markets increased their price objective on shares of On Assignment from $54.00 to $60.00 and gave the company 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. Finally, Robert W. Baird reiterated a “hold” rating and set a $53.00 price objective on shares of On Assignment in a research report on Sunday, September 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. On Assignment presently has an average rating of “Buy” and a consensus price target of $55.67.
On Assignment (NASDAQ ASGN) traded down 0.50% during mid-day trading on Friday, reaching $49.36. 556,391 shares of the company’s stock traded hands. The stock has a market capitalization of $2.61 billion and a PE ratio of 24.23. The stock has a 50-day moving average price of $47.62 and a 200-day moving average price of $50.01. On Assignment has a 12-month low of $32.04 and a 12-month high of $55.53.
On Assignment (NASDAQ:ASGN) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $653.31 million during the quarter, compared to analysts’ expectations of $655.96 million. On Assignment had a net margin of 5.09% and a return on equity of 14.70%. On Assignment’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. Equities research analysts expect that On Assignment will post $2.86 EPS for the current year.
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In other news, Director Brian J. Callaghan sold 20,250 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $54.02, for a total value of $1,093,905.00. Following the completion of the sale, the director now owns 430,873 shares in the company, valued at approximately $23,275,759.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in On Assignment by 137,720.1% in the 1st quarter. BlackRock Inc. now owns 5,902,836 shares of the company’s stock worth $286,464,000 after buying an additional 5,898,553 shares during the period. Vanguard Group Inc. increased its stake in On Assignment by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,430,849 shares of the company’s stock worth $239,930,000 after buying an additional 44,109 shares during the period. Dimensional Fund Advisors LP increased its stake in On Assignment by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,240,588 shares of the company’s stock worth $121,328,000 after buying an additional 10,945 shares during the period. State Street Corp increased its stake in On Assignment by 5.8% in the 2nd quarter. State Street Corp now owns 1,227,335 shares of the company’s stock worth $66,468,000 after buying an additional 66,839 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in On Assignment by 1.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,161,955 shares of the company’s stock worth $62,920,000 after buying an additional 22,047 shares during the period.
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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