Trade Report: The Avondale Partners Comments on On Assignment, Inc.’s Q3 2016 Earnings (ASGN)

The Avondale Partners Comments on On Assignment, Inc.’s Q3 2016 Earnings (ASGN)

On Assignment, Inc. (NASDAQ:ASGN) – Analysts at Avondale Partners issued their Q3 2016 EPS estimates for On Assignment in a research note issued to investors on Tuesday. Avondale Partners analyst R. Reece anticipates that the firm will post earnings per share of $0.85 for the quarter.

On Assignment (NASDAQ:ASGN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $608.10 million for the quarter, compared to the consensus estimate of $600.12 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On Assignment’s revenue for the quarter was up 25.3% compared to the same quarter last year.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised On Assignment from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, June 22nd. BMO Capital Markets restated a “buy” rating and set a $45.00 price objective on shares of On Assignment in a research report on Wednesday, September 7th. Finally, Deutsche Bank AG began coverage on On Assignment in a research report on Wednesday, August 17th. They set a “buy” rating and a $44.00 price objective on the stock.

Shares of On Assignment (NASDAQ:ASGN) opened at 36.11 on Thursday. The company’s 50 day moving average is $37.07 and its 200-day moving average is $36.94. On Assignment has a 52 week low of $29.34 and a 52 week high of $51.00. The company has a market capitalization of $1.93 billion and a PE ratio of 22.00.

A number of institutional investors have recently added to or reduced their stakes in ASGN. Tower Research Capital LLC TRC raised its position in On Assignment by 751.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,748 shares of the company’s stock valued at $138,000 after buying an additional 3,308 shares during the last quarter. Victory Capital Management Inc. raised its position in On Assignment by 40.0% in the second quarter. Victory Capital Management Inc. now owns 3,868 shares of the company’s stock valued at $143,000 after buying an additional 1,105 shares during the last quarter. Amalgamated Bank raised its position in On Assignment by 7.3% in the second quarter. Amalgamated Bank now owns 5,847 shares of the company’s stock valued at $211,000 after buying an additional 400 shares during the last quarter. PineBridge Investments L.P. raised its position in On Assignment by 4.2% in the second quarter. PineBridge Investments L.P. now owns 6,093 shares of the company’s stock valued at $225,000 after buying an additional 244 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in On Assignment during the second quarter valued at $255,000.

In other On Assignment news, CEO Peter T. Dameris sold 23,537 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $36.88, for a total value of $868,044.56. Following the transaction, the chief executive officer now owns 319,422 shares of the company’s stock, valued at $11,780,283.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Mcgowan sold 4,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $37.17, for a total value of $148,680.00. Following the completion of the transaction, the chief operating officer now directly owns 213,106 shares in the company, valued at approximately $7,921,150.02. The disclosure for this sale can be found here.

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