Brokerages Set On Assignment, Inc. (ASGN) Price Target at $81.57

On Assignment, Inc. (NYSE:ASGN) has been assigned a consensus recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $81.57.

A number of research analysts have recently issued reports on the stock. Wells Fargo raised their price target on shares of On Assignment from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. William Blair restated an “outperform” rating on shares of On Assignment in a research report on Thursday, February 15th. Zacks Investment Research upgraded shares of On Assignment from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Wednesday, April 25th. ValuEngine upgraded shares of On Assignment from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, BMO Capital Markets reduced their price target on shares of On Assignment from $101.00 to $94.00 and set an “outperform” rating on the stock in a research report on Thursday, April 26th.

In related news, Director Edwin A. Sheridan sold 77,596 shares of On Assignment stock in a transaction dated 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 sale, the director now directly owns 1,686 shares in the company, valued at approximately $131,153.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marty R. Kittrell sold 2,000 shares of On Assignment stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $76.24, for a total transaction of $152,480.00. Following the completion of the sale, the director now owns 4,946 shares in the company, valued at $377,083.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,100 shares of company stock worth $9,428,677. 3.90% of the stock is currently owned by insiders.



Hedge funds have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd bought a new stake in shares of On Assignment during the 4th quarter worth about $490,000. BlackRock Inc. raised its position in shares of On Assignment by 0.5% during the 4th quarter. BlackRock Inc. now owns 6,098,116 shares of the business services provider’s stock worth $391,925,000 after buying an additional 30,089 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of On Assignment by 17.8% during the 4th quarter. Flinton Capital Management LLC now owns 6,528 shares of the business services provider’s stock worth $420,000 after buying an additional 986 shares in the last quarter. First Trust Advisors LP raised its position in shares of On Assignment by 315.7% during the 4th quarter. First Trust Advisors LP now owns 54,801 shares of the business services provider’s stock worth $3,522,000 after buying an additional 41,617 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of On Assignment by 78.8% during the 4th quarter. Pinebridge Investments L.P. now owns 46,385 shares of the business services provider’s stock worth $2,982,000 after buying an additional 20,441 shares in the last quarter. Institutional investors own 93.28% of the company’s stock.

Shares of On Assignment stock traded down $1.12 during trading hours on Wednesday, reaching $83.40. The company’s stock had a trading volume of 6,471 shares, compared to its average volume of 314,292. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 3.02. On Assignment has a one year low of $83.25 and a one year high of $84.82. The company has a market cap of $4.42 billion, a P/E ratio of 27.56, a PEG ratio of 2.06 and a beta of 1.91.

On Assignment (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, April 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.08. On Assignment had a net margin of 6.12% and a return on equity of 17.99%. The company had revenue of $685.20 million for the quarter, compared to the consensus estimate of $677.66 million. During the same period last year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. sell-side analysts predict that On Assignment will post 4.1 earnings per share for the current year.

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.

Analyst Recommendations for On Assignment (NYSE:ASGN)

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