SunTrust Banks Reaffirms “Buy” Rating for On Assignment (ASGN)
On Assignment (NYSE:ASGN)‘s stock had its “buy” rating reiterated by equities researchers at SunTrust Banks in a note issued to investors on Friday.
A number of other research analysts have also weighed in on the company. Royal Bank Of Canada upped their price objective on On Assignment from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research lowered On Assignment from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird reaffirmed a “hold” rating and set a $53.00 price objective on shares of On Assignment in a report on Sunday, September 3rd. Deutsche Bank upped their price objective on On Assignment from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets upped their price objective on On Assignment from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. On Assignment currently has an average rating of “Buy” and an average price target of $62.60.
On Assignment (NYSE:ASGN) traded up $1.57 during trading hours on Friday, hitting $63.83. The stock had a trading volume of 411,364 shares, compared to its average volume of 272,765. On Assignment has a 1-year low of $42.86 and a 1-year high of $65.34. The firm has a market capitalization of $3,320.00, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.10 and a beta of 2.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.57 and a current ratio of 2.57.
On Assignment (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.83 earnings per share for the quarter, topping 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 firm had revenue of $667.05 million for the quarter, compared to analyst estimates of $660.90 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. On Assignment’s quarterly revenue was up 6.0% on a year-over-year basis. analysts expect that On Assignment will post 2.97 earnings per share for the current fiscal year.
In other On Assignment news, Director Brian J. Callaghan sold 20,250 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $64.00, for a total transaction of $1,296,000.00. Following the sale, the director now directly owns 392,930 shares in the company, valued at $25,147,520. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jennifer Hankes Painter sold 3,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $63.06, for a total value of $220,710.00. Following the sale, the senior vice president now owns 10,667 shares in the company, valued at $672,661.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 524,285 shares of company stock worth $31,105,517. 5.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. lifted its position in shares of 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 acquiring an additional 2,879 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of 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 acquiring an additional 3,374 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of On Assignment in the third quarter valued at $280,000. Cubist Systematic Strategies LLC purchased a new stake in shares of On Assignment in the third quarter valued at $419,000. Finally, Stifel Financial Corp lifted its position in shares of 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 acquiring an additional 16,813 shares in the last quarter. Institutional investors own 90.27% of the company’s stock.
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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