New Lifetime High Today: 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.

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 $15.4 million.
  • ASGN has traded 4,580 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, Australia, and New Zealand. The company operates in four segments: Apex, Oxford, Physician, and Life Sciences Europe. ASGN has a PE ratio of 27. Currently there are 10 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 325,700 shares per day over the past 30 days. On Assignment has a market cap of $2.1 billion and is part of the services sector and diversified services industry. The stock has a beta of 2.26 and a short float of 2% with 2.54 days to cover. Shares are up 20.1% year-to-date as of the close of trading on Friday.

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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 revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:
  • ASGN's revenue growth has slightly outpaced the industry average of 1.2%. Since the same quarter one year prior, revenues slightly increased by 5.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
  • The current debt-to-equity ratio, 0.50, 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 2.44, which demonstrates the ability of the company to cover short-term liquidity needs.
  • 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 181.2% when compared to the same quarter one year prior, rising from $13.92 million to $39.14 million.
  • Net operating cash flow has significantly increased by 561.53% to $19.94 million when compared to the same quarter last year. In addition, ON ASSIGNMENT INC has also vastly surpassed the industry average cash flow growth rate of 19.21%.

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