On Assignment (NYSE:ASGN) had its target price raised by stock analysts at Wells Fargo & Co to $71.00 in a report released on Friday. The brokerage currently has an “outperform” rating on the business services provider’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 10.47% from the company’s current price.
Several other brokerages have also recently weighed in on ASGN. BMO Capital Markets upped their price objective on shares of On Assignment from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. BidaskClub raised shares of On Assignment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of On Assignment from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, October 27th. Royal Bank of Canada upped their price objective on shares of On Assignment from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of On Assignment in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $64.00.
Shares of On Assignment (ASGN) traded up $0.22 during trading on Friday, reaching $64.27. 180,321 shares of the company’s stock traded hands, compared to its average volume of 274,590. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market capitalization of $3,323.75, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.15 and a beta of 2.12. On Assignment has a 1 year low of $42.95 and a 1 year high of $65.73.
In other news, insider Jeffrey E. Veatch sold 1,520 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $56.01, for a total transaction of $85,135.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Theodore S. Hanson sold 18,313 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $61.55, for a total transaction of $1,127,165.15. Following the transaction, the insider now owns 253,639 shares in the company, valued at $15,611,480.45. The disclosure for this sale can be found here. Insiders have sold 524,285 shares of company stock worth $31,105,517 over the last quarter. 5.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its holdings in On Assignment by 12.5% in the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock valued at $1,393,000 after buying an additional 2,879 shares during the period. California Public Employees Retirement System lifted its holdings in On Assignment by 3.7% in the third quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock valued at $5,141,000 after buying an additional 3,374 shares during the period. Janney Montgomery Scott LLC acquired a new position in On Assignment in the third quarter valued at approximately $280,000. Cubist Systematic Strategies LLC acquired a new position in On Assignment in the third quarter valued at approximately $419,000. Finally, Stifel Financial Corp lifted its holdings in On Assignment by 6.2% in the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock valued at $15,451,000 after buying an additional 16,813 shares during the period. Institutional investors own 90.14% 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.
