On Assignment (ASGN) Upgraded at 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 morning. Zacks Investment Research currently has $92.00 price objective on the business services provider’s stock.

According to Zacks, “On Assignment, Inc. is one of the foremost providers of in-demand, highly skilled professionals in the technology, digital, creative, healthcare technology, and life sciences sectors. On Assignment, Inc. go beyond simply matching resumes with open jobs; they focus on matching talented people who have the right level of experience with jobs where they can contribute and grow their careers. On Assignment, Inc. manage best of breed companies and help them grow and succeed. On Assignment’s mission is to help organizations thrive and empower people to build rewarding careers by putting highly skilled professionals to work exactly when and where they are needed. Professionals think of On Assignment as career-building partners with the depth and breadth of experience to help them reach their goals. “

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Several other analysts have also recently issued reports on ASGN. ValuEngine upgraded On Assignment from a buy rating to a strong-buy rating in a research note on Monday, April 2nd. Wells Fargo set a $92.00 price objective on On Assignment and gave the company a buy rating in a research note on Monday, April 2nd. BMO Capital Markets increased their price objective on On Assignment from $66.00 to $73.00 and gave the company an outperform rating in a research note on Monday, January 8th. SunTrust Banks increased their price objective on On Assignment to $88.00 and gave the company a buy rating in a research note on Thursday, February 1st. Finally, Deutsche Bank increased their price objective on On Assignment from $75.00 to $85.00 and gave the company a buy rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. On Assignment presently has a consensus rating of Buy and a consensus price target of $79.86.

ASGN opened at $81.00 on Wednesday. On Assignment has a 52 week low of $44.66 and a 52 week high of $86.13. The firm has a market cap of $4,365.04, a PE ratio of 27.25, a PEG ratio of 2.22 and a beta of 1.89. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.58.

On Assignment (NYSE:ASGN) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $0.76 by $0.68. The business had revenue of $679.04 million during the quarter, compared to analyst estimates of $671.35 million. On Assignment had a return on equity of 17.42% and a net margin of 6.00%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. equities research analysts predict that On Assignment will post 3.76 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 value of $152,480.00. Following the sale, the director now directly owns 4,946 shares in the company, valued at $377,083.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edwin A. Sheridan sold 77,596 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $77.79, for a total value of $6,036,192.84. Following the completion of the sale, the director now owns 1,686 shares in the company, valued at $131,153.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,265 shares of company stock worth $9,440,062. Insiders own 5.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ASGN. We Are One Seven LLC acquired a new stake in On Assignment in the fourth quarter valued at $163,000. Public Employees Retirement Association of Colorado acquired a new stake in On Assignment in the fourth quarter valued at $192,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in On Assignment by 38.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,099 shares of the business services provider’s stock valued at $199,000 after buying an additional 857 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in On Assignment in the fourth quarter valued at $217,000. Finally, M&T Bank Corp acquired a new stake in On Assignment in the fourth quarter valued at $218,000. Institutional investors own 93.95% 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.

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