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On Assignment (ASGN) Reaches New Lifetime High Today

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 $12.3 million.
  • ASGN has traded 14,622 shares today.
  • ASGN is trading at a new lifetime high.

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More details on ASGN:

On Assignment, Inc. 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. The company operates in four segments: Apex, Oxford, Life Sciences, and Physician. ASGN has a PE ratio of 35.0. Currently there are 8 analysts that rate On Assignment a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for On Assignment has been 353,700 shares per day over the past 30 days. On Assignment has a market cap of $1.9 billion and is part of the services sector and diversified services industry. The stock has a beta of 2.98 and a short float of 1.5% with 2.11 days to cover. Shares are up 7.6% year-to-date as of the close of trading on Tuesday.

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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:

  • Powered by its strong earnings growth of 33.33% and other important driving factors, this stock has surged by 40.59% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, ASGN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • ON ASSIGNMENT INC has improved earnings per share by 33.3% 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 $1.00 versus $0.78 in the prior year. This year, the market expects an improvement in earnings ($1.46 versus $1.00).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Professional Services industry. The net income increased by 128.2% when compared to the same quarter one year prior, rising from $14.21 million to $32.41 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 17.8%. Since the same quarter one year prior, revenues rose by 11.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The debt-to-equity ratio is somewhat low, currently at 0.62, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. To add to this, ASGN has a quick ratio of 1.77, which demonstrates the ability of the company to cover short-term liquidity needs.

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