Zacks Investment Research upgraded shares of On Assignment, Inc. (NASDAQ:ASGN) from a sell rating to a hold rating in a report issued on Friday morning.
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. “
ASGN has been the topic of several other research reports. Robert W. Baird reiterated a hold rating and issued a $53.00 target price on shares of On Assignment in a research report on Sunday, September 3rd. BidaskClub upgraded shares of On Assignment from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, BMO Capital Markets lifted their target price 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $55.67.
Shares of 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. On Assignment has a 12-month low of $32.05 and a 12-month high of $55.53. The company has a market cap of $2.61 billion and a P/E ratio of 24.23. The company’s 50 day moving average is $47.62 and its 200 day moving average is $50.01.
On Assignment (NASDAQ:ASGN) last announced its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. On Assignment had a net margin of 5.09% and a return on equity of 14.70%. The business had revenue of $653.31 million for the quarter, compared to analyst estimates of $655.96 million. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts predict that On Assignment will post $2.86 EPS for the current fiscal 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 transaction, the director now directly owns 430,873 shares of the company’s stock, valued at $23,275,759.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of On Assignment by 137,720.1% in the first 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of On Assignment by 1.0% in the second 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of On Assignment by 0.5% in the second 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 in the last quarter. State Street Corp lifted its stake in shares of On Assignment by 5.8% in the second 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of On Assignment by 1.9% in the second 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 in the last quarter.
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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