On Assignment Gets $13 Target after Q3 Beat
On Assignment Inc. (ASGN, Free Analysis), a diversified professional staffing firm providing flexible and permanent staffing solutions in specialty skills, was favorably mentioned by BMO Capital today. After reporting higher-than-expected third quarter financial results, the analyst raised its target price to $13.00 per share and reiterated its Outperform rating.
During the third quarter, the company reported earnings of 21 cents per share, beating analyst estimates of 18 cents, on revenues of $162.4 million, compared to a $155.68 million consensus. Looking ahead towards the fourth quarter, the firm also anticipates earnings of between 15 cents and 16 cents, which exceeded analyst projections of 14 cents.
Quantum Upgraded amid Growing DXi Sales
Quantum Corporation (QTM, Free Analysis), a global storage company specializing in backup, recovery and archive solutions, was upgraded to Outperform by FBN Securities today. After reporting better-than-expected earnings, the analyst upgraded the stock and issued a $3.35 per share price target, citing growing DXi sales as the primary catalyst driving the move.
During the second quarter, the company reported earnings of 6 cents per share, surpassing 2 cent per share analyst estimates by a healthy margin. Meanwhile, its revenues hit $165 million, which also exceeded analyst projections of just $160.17 million. But looking ahead, the firm’s estimates came in a bit below analyst consensus, although it appears this hasn’t bothered investors too much.
First Commonwealth Turnaround Gaining Traction
First Commonwealth Financial (FCF, Free Analysis), a provider of an array of consumer and commercial banking services through its bank subsidiary, was favorably mentioned by Stifel Nicolaus today. After reporting in-line financial results, the analyst raised its target price to $6.50 per share, noting that the company’s turnaround is gaining traction.
During the third quarter, the company reported earnings of 8 cents per share, which were in-line with analyst estimates. Meanwhile, the firm outlined its plans to solidify its balance sheet, expand its customer relationships and address any troubled debts that remain in its portfolio. The hope is that this long-term approach will ultimately unlock value for shareholders.
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