Zacks Investment Research upgraded shares of On Assignment, Inc. (NASDAQ:ASGN) from a sell rating to a hold rating in a research report released on Thursday 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. “
Several other brokerages have also recently issued reports on ASGN. BMO Capital Markets lifted their target price on On Assignment from $54.00 to $60.00 and gave the stock an outperform rating in a report on Friday, July 14th. BidaskClub raised On Assignment from a sell rating to a hold rating in a report on Friday, September 1st. Finally, Robert W. Baird reissued a hold rating and set a $53.00 price objective on shares of On Assignment in a research note on Sunday, September 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. On Assignment has a consensus rating of Buy and a consensus target price of $55.67.
Shares of On Assignment (NASDAQ:ASGN) traded up 0.87% during trading on Thursday, hitting $51.29. The stock had a trading volume of 150,771 shares. The stock has a 50 day moving average of $47.69 and a 200 day moving average of $50.10. On Assignment has a 12 month low of $32.04 and a 12 month high of $55.53. The company has a market cap of $2.71 billion and a PE ratio of 25.18.
On Assignment (NASDAQ:ASGN) last issued its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. On Assignment had a return on equity of 14.70% and a net margin of 5.09%. The firm had revenue of $653.31 million for the quarter, compared to analysts’ expectations of $655.96 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that On Assignment will post $2.86 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in On Assignment by 137,720.1% during the first quarter. BlackRock Inc. now owns 5,902,836 shares of the company’s stock worth $286,464,000 after acquiring an additional 5,898,553 shares during the last quarter. Vanguard Group Inc. increased its stake in On Assignment by 1.0% during the second quarter. Vanguard Group Inc. now owns 4,430,849 shares of the company’s stock worth $239,930,000 after acquiring an additional 44,109 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in On Assignment by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,240,588 shares of the company’s stock worth $121,328,000 after acquiring an additional 10,945 shares during the last quarter. State Street Corp increased its stake in On Assignment by 5.8% during the second quarter. State Street Corp now owns 1,227,335 shares of the company’s stock worth $66,468,000 after acquiring an additional 66,839 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in On Assignment by 1.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,161,955 shares of the company’s stock worth $62,920,000 after acquiring an additional 22,047 shares during the last quarter.
On Assignment Company Profile
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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