On Assignment (ASGN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of On Assignment (NYSE:ASGN) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $92.00 price objective on the business services provider’s stock.
According to Zacks, “ASGN Incorporated provides IT and professional services primarily in the technology, creative/digital, engineering, life sciences and government sectors. ASGN Incorporated, formerly known as On Assignment Inc., is based California, United States. “
Other analysts have also recently issued research reports about the stock. Wells Fargo lifted their price target on shares of On Assignment from $75.00 to $85.00 and gave the company an outperform rating in a report on Thursday, February 1st. ValuEngine upgraded shares of On Assignment from a hold rating to a buy rating in a report on Friday, February 2nd. William Blair reiterated an outperform rating on shares of On Assignment in a report on Thursday, February 15th. BMO Capital Markets lifted their price target on shares of On Assignment from $73.00 to $82.00 and gave the company an outperform rating in a report on Thursday, February 1st. Finally, Deutsche Bank lifted their price target on shares of On Assignment from $75.00 to $85.00 and gave the company a buy rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $81.57.
On Assignment (NYSE:ASGN) last released its quarterly earnings results on Wednesday, April 25th. The business services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.08. The business had revenue of $685.20 million for the quarter, compared to analysts’ expectations of $677.66 million. On Assignment had a net margin of 6.12% and a return on equity of 17.99%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. analysts predict that On Assignment will post 4.1 earnings per share for the current fiscal year.
In other On Assignment news, Director Marty R. Kittrell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $76.24, for a total transaction of $152,480.00. Following the completion of the transaction, the director now owns 4,946 shares of the company’s stock, valued at $377,083.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edwin A. Sheridan sold 22,404 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $77.64, for a total value of $1,739,446.56. The disclosure for this sale can be found here. Insiders have sold 121,100 shares of company stock valued at $9,428,677 in the last three months. Insiders own 5.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ASGN. Hennessy Advisors Inc. purchased a new position in On Assignment during the fourth quarter valued at $31,994,000. Acadian Asset Management LLC purchased a new position in shares of On Assignment in the 4th quarter worth about $19,230,000. Pathstone Family Office LLC purchased a new position in shares of On Assignment in the 4th quarter worth about $15,686,000. KAMES CAPITAL plc raised its position in shares of On Assignment by 57.2% in the 4th quarter. KAMES CAPITAL plc now owns 610,094 shares of the business services provider’s stock worth $39,205,000 after purchasing an additional 222,039 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of On Assignment by 197.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 181,351 shares of the business services provider’s stock worth $11,655,000 after purchasing an additional 120,288 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.
About On Assignment
ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.
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