On Assignment (NASDAQ:ASGN)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a report released on Thursday, AnalystRatings.NET reports. They currently have a $39.00 price objective on the stock, up from their previous price objective of $36.00. Jefferies Group’s price target indicates a potential upside of 13.21% from the company’s current price.
The analysts wrote, “Yesterday, after the market closed, On Assignment reported 3Q results and provided 4Q guidance. As we expected, accelerating Apex growth (+21.6% vs. +19.8% in 2Q) helped drive yet another strong quarter, driving a ~6% beat to the high-end of EPS guidance. Buoyant commentary about the state of the IT markets exiting 3Q bodes well for ASGN’s growth trajectory. Reiterate BUY. Increase PT from $36 to $39.”
On Assignment (NASDAQ:ASGN) traded down 5.65% during mid-day trading on Thursday, hitting $32.505. The stock had a trading volume of 368,669 shares. On Assignment has a 52-week low of $18.00 and a 52-week high of $33.55. The stock has a 50-day moving average of $31.23 and a 200-day moving average of $27.03. The company has a market cap of $1.742 billion and a price-to-earnings ratio of 30.06.
On Assignment (NASDAQ:ASGN) last announced its earnings results on Wednesday, October 23rd. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.03. The company had revenue of $432.20 million for the quarter, compared to the consensus estimate of $431.53 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that On Assignment will post $1.18 EPS for the current fiscal year.
ASGN has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. downgraded shares of On Assignment from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at Thomson Reuters/Verus upgraded shares of On Assignment from a “hold” rating to a “buy” rating in a research note to investors on Monday, October 7th. Finally, analysts at UBS AG raised their price target on shares of On Assignment from $32.50 to $34.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $33.29.
On Assignment, Inc is a global provider of skilled, professionals in the life sciences, healthcare and technology sectors.
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