On Assignment (ASGN) Earns Buy Rating from SunTrust Banks

SunTrust Banks restated their buy rating on shares of On Assignment (NYSE:ASGN) in a research note released on Friday morning.

Several other analysts also recently weighed in on the company. BMO Capital Markets lifted their target price on On Assignment from $62.00 to $66.00 and gave the company an outperform rating in a research note on Friday, November 10th. Zacks Investment Research downgraded On Assignment from a buy rating to a hold rating in a research note on Tuesday, October 31st. Robert W. Baird reaffirmed a hold rating and set a $59.00 target price on shares of On Assignment in a research note on Friday, October 27th. Royal Bank of Canada lifted their target price on On Assignment from $59.00 to $61.00 and gave the company an outperform rating in a research note on Thursday, October 26th. Finally, Deutsche Bank lifted their target price on On Assignment from $57.00 to $60.00 and gave the company a buy rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. On Assignment has an average rating of Buy and a consensus target price of $62.60.

Shares of On Assignment (NYSE:ASGN) opened at $62.92 on Friday. The stock has a market capitalization of $3,320.11, a P/E ratio of 22.32, a P/E/G ratio of 2.15 and a beta of 2.12. On Assignment has a 1-year low of $42.86 and a 1-year high of $65.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57.

On Assignment (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.08. The business had revenue of $667.05 million for the quarter, compared to the consensus estimate of $660.90 million. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. analysts forecast that On Assignment will post 2.97 earnings per share for the current year.

In other news, CEO Peter T. Dameris sold 24,911 shares of On Assignment stock in a transaction on Monday, October 30th. The stock was sold at an average price of $59.13, for a total transaction of $1,472,987.43. Following the transaction, the chief executive officer now directly owns 100,086 shares in the company, valued at approximately $5,918,085.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey E. Veatch sold 1,520 shares of On Assignment stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $56.01, for a total value of $85,135.20. The disclosure for this sale can be found here. Insiders have sold a total of 524,285 shares of company stock worth $31,105,517 in the last ninety days. 5.40% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of ASGN. Janney Montgomery Scott LLC acquired a new position in shares of On Assignment in the 3rd quarter worth $280,000. Cubist Systematic Strategies LLC acquired a new position in shares of On Assignment in the 3rd quarter worth $419,000. Insight Capital Research & Management Inc. acquired a new position in shares of On Assignment in the 3rd quarter worth $953,000. Pinebridge Investments L.P. grew its holdings in shares of On Assignment by 12.5% in the 3rd quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock worth $1,393,000 after acquiring an additional 2,879 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of On Assignment by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock worth $5,141,000 after acquiring an additional 3,374 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.

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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.

Analyst Recommendations for On Assignment (NYSE:ASGN)

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