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New Lifetime High For On Assignment (ASGN)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified On Assignment ( ASGN) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified On Assignment as such a stock due to the following factors:

  • ASGN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.3 million.
  • ASGN has traded 96,691 shares today.
  • ASGN is trading at a new lifetime high.

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More details on ASGN:

On Assignment, Inc., a diversified professional staffing firm, provides short- and long-term placement of contract, contract-to-hire, and direct hire professionals in the United States, Europe, Canada, China, Australia, and New Zealand. ASGN has a PE ratio of 32.9. Currently there are 7 analysts that rate On Assignment a buy, no analysts rate it a sell, and 2 rate it a hold.

The average volume for On Assignment has been 311,400 shares per day over the past 30 days. On Assignment has a market cap of $1.8 billion and is part of the services sector and diversified services industry. The stock has a beta of 2.97 and a short float of 1.3% with 2.28 days to cover. Shares are up 70.9% year-to-date as of the close of trading on Monday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates On Assignment as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:

  • ON ASSIGNMENT INC has improved earnings per share by 32.1% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, ON ASSIGNMENT INC increased its bottom line by earning $0.78 versus $0.65 in the prior year. This year, the market expects an improvement in earnings ($1.21 versus $0.78).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Professional Services industry average. The net income increased by 30.0% when compared to the same quarter one year prior, rising from $15.50 million to $20.15 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 19.3%. Since the same quarter one year prior, revenues rose by 15.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The current debt-to-equity ratio, 0.59, is low and is below the industry average, implying that there has been successful management of debt levels. To add to this, ASGN has a quick ratio of 2.25, which demonstrates the ability of the company to cover short-term liquidity needs.

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