On Assignment, Inc. (NYSE:ASGN) – Equities researchers at SunTrust Banks lifted their Q2 2018 earnings estimates for On Assignment in a research note issued to investors on Friday, April 6th. SunTrust Banks analyst T. Sommer now expects that the business services provider will post earnings of $1.05 per share for the quarter, up from their prior estimate of $0.99. SunTrust Banks has a “Buy” rating and a $88.00 price target on the stock. SunTrust Banks also issued estimates for On Assignment’s Q3 2018 earnings at $1.14 EPS, Q4 2018 earnings at $1.11 EPS, FY2018 earnings at $4.01 EPS, Q1 2019 earnings at $0.97 EPS, Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.20 EPS and FY2019 earnings at $4.56 EPS.
On Assignment (NYSE:ASGN) last issued its earnings results on Wednesday, February 14th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.68. On Assignment had a net margin of 6.00% and a return on equity of 17.42%. The company had revenue of $679.04 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year.
ASGN has been the subject of a number of other reports. ValuEngine raised shares of On Assignment from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Wells Fargo set a $92.00 target price on shares of On Assignment and gave the company a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of On Assignment from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 10th. BMO Capital Markets increased their target price on shares of On Assignment from $66.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, January 8th. Finally, Deutsche Bank increased their target price on shares of On Assignment from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $79.86.
Shares of On Assignment stock opened at $81.92 on Monday. On Assignment has a 12-month low of $44.66 and a 12-month high of $86.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.00 and a quick ratio of 3.00. The stock has a market capitalization of $4,226.25, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.11 and a beta of 1.89.
In other news, Director Edwin A. Sheridan sold 77,596 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $77.79, for a total transaction of $6,036,192.84. Following the completion of the transaction, the director now directly owns 1,686 shares of the company’s stock, valued at approximately $131,153.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marty R. Kittrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $76.24, for a total transaction of $152,480.00. Following the transaction, the director now directly owns 4,946 shares of the company’s stock, valued at $377,083.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,265 shares of company stock valued at $9,440,062. Corporate insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ASGN. Cubist Systematic Strategies LLC purchased a new position in shares of On Assignment during the 3rd quarter worth approximately $419,000. Bamco Inc. NY increased its stake in shares of On Assignment by 5.5% during the 3rd quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock worth $102,534,000 after purchasing an additional 100,000 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of On Assignment during the 3rd quarter worth approximately $280,000. California Public Employees Retirement System increased its stake in shares of On Assignment by 3.7% during 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 purchasing an additional 3,374 shares in the last quarter. Finally, Insight Capital Research & Management Inc. purchased a new position in shares of On Assignment during the 3rd quarter worth approximately $953,000. 93.94% of the stock is owned by institutional investors and hedge funds.
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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.
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