On Assignment Stock Story

ASGN
 Stock
  

USD 105.04  0.33  0.32%   

On Assignment is scheduled to announce its earnings tomorrow. As some millenniums are still trying to avoid technology space, I will try to outline On Assignment a little further in order to understand its potential as a viable investment. We will cover the possibilities of On Assignment recovering given the latest economic outlook.
Published over a month ago
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Should you trade your On Assignment (NYSE:ASGN) positions thanks to the latest analyst consensus?

The asset utilization indicator refers to the revenue earned for every dollar of assets a company currently reports. On Assignment has an asset utilization ratio of 237.08 percent. This suggests that the company is making $2.37 for each dollar of assets. An increasing asset utilization means that On Assignment is more efficient with each dollar of assets it utilizes for everyday operations.
What is the right price you would pay to acquire a share of On Assignment? For most investors, it would be the price that gives them a wide margin of safety to have minimal downside risk. In other words, most investors are always looking for undervalued stocks. Even if the future performance is not entirely as expected, the loss of holding it is minimized, and the downside risk is negated.
Please read more on our stock advisor page.

What is happening with On Assignment this year

Annual and quarterly reports issued by On Assignment are formal financial statements that are published yearly and quarterly and sent to On Assignment stockholders. The reports show and break down the current year's ongoing operations and discuss plans for the upcoming year. Annual reports have been a requirement from the Securities and Exchange Commission (SEC) for businesses owned by the public since 1934.
Companies such as On Assignment often view their annual report as an effective marketing tool to disseminate their perspective on company future earnings or innovations. With this in mind, many companies devote large sums of money to making their reports attractive and informative. In such instances, the annual report becomes a forum through which a company can communicate to the general public any number of topics that may or may not be directly related to the actual data published in the reports.

How does On Assignment utilize its cash?

To perform a cash flow analysis of On Assignment, investors first need to understand how to read the cash flow statement. A cash flow statement shows the amount of cash On Assignment is receiving and how much cash it distributes out in a given period. The On Assignment cash flow statement breaks down these inflows and outflows into different buckets, including operating activities, investing activities, and financing activities.
On Assignment Net Cash Flow from Operations is quite stable at the moment as compared to the past year. The company's current value of Net Cash Flow from Operations is estimated at 207.71 Million

Payment of 19 shares by Theodore Hanson of On Assignment subject to Rule 16b-3

Legal trades by On Assignment insiders are very common, as founders, directors, or employees of any publicly traded firm often have stock or stock options. These trades are made public in the United States through the filing of Form 4 of the Securities and Exchange Commission. Below entry was recorded recently and is publicly available as an insider trade:
On Assignment insider trading alert for payment of common stock by Theodore Hanson, CEO, on 11th of July 2022. This event was filed by Asgn Inc with SEC on 2022-07-11. Statement of changes in beneficial ownership - SEC Form 4. Theodore Hanson currently serves as executive vp and president of lab support division of On Assignment [view details]   
Note, although insider trading is legal, in the United States, Canada, Australia, and Germany, for mandatory reporting purposes, corporate insiders are defined as a company's officers, directors, and any beneficial owners of more than 10% of a class of the company's equity securities.

What is driving On Assignment Investor Appetite?

Earning per share calculations of the firm is based on official Zacks consensus of 4 analysts regarding On Assignment's future annual earnings. Given the historical accuracy of 90.65%, the future earnings per share of the company is estimated to be 5.28 with the lowest and highest values of 5.24 and 5.34, respectively. Please note that this consensus of annual earnings estimates for On Assignment is an estimate of EPS before non-recurring items and including employee stock options expenses. The bottom line is that whether you decide to purchase On Assignment or not, do not make market timing a crucial part of their investment strategy. If you do, it can result in missing out on opportunities picking up On Assignment (NYSE:ASGN) at a lower price while you will try to predict a bottom of a market sell-off.

On Assignment Current Consensus

Here is the latest trade recommendation based on an ongoing consensus estimate among financial analysis covering On Assignment. The On Assignment consensus assessment is calculated by taking the average estimates from all of the analysts covering On Assignment

Strong Buy
3
Hold
2
Strong Buy360.0
Buy00.0
Hold240.0
Sell00.0
Strong Sell00.0

On Assignment has 87 percent odds to go over $88 this year

Latest coefficient of variation indicator falls down to -678.33. Possible price upswing? On Assignment exhibits very low volatility with skewness of 0.15 and kurtosis of -0.04. However, we advise investors to further study On Assignment technical indicators to make sure all market info is available and is reliable. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure On Assignment's stock risk against market volatility during both bullying and bearish trends. The higher level of volatility that comes with bear markets can directly impact On Assignment's stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different stocks as prices fall.

On Assignment Implied Volatility

On Assignment's implied volatility exposes the market's sentiment of On Assignment stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if On Assignment's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that On Assignment stock will not fluctuate a lot when On Assignment's options are near their expiration.

Our Conclusion on On Assignment

Whereas some firms in the information technology services industry are either recovering or due for a correction, On Assignment may not be as strong as the others in terms of longer-term growth potentials. With a somewhat neutral outlook on your 90 days horizon, it may be better to hold off any trading activity and neither pick up new shares of On Assignment nor exit your existing holdings in the Stock. It seems the expected volatility has not yet been fully factored into the current price. Please use our equity advice module to run different scenarios to ensure your current risk level and investment horizon are fully reflective of your current investing preferences in regards to On Assignment.

Editorial Staff

This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Gabriel Shpitalnik do not own shares of On Assignment. Please refer to our Terms of Use for any information regarding our disclosure principles.

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