ASGN Incorporated (NYSE:ASGN) Given Consensus Recommendation of “Hold” by Brokerages

ASGN Incorporated (NYSE:ASGN) has earned a consensus rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $96.38.

ASGN has been the subject of a number of research reports. BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Canaccord Genuity Group restated a “buy” rating and set a $115.00 target price on shares of ASGN in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lowered their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, September 9th.

Insider Transactions at ASGN

In other news, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the transaction, the director now directly owns 11,645 shares in the company, valued at approximately $1,077,278.95. This represents a 14.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore S. Hanson sold 1,200 shares of ASGN stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total value of $119,568.00. Following the completion of the transaction, the chief executive officer now directly owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,763 shares of company stock valued at $1,398,986 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ASGN

Large investors have recently added to or reduced their stakes in the business. Reinhart Partners LLC. grew its stake in shares of ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after purchasing an additional 39,607 shares in the last quarter. Argent Capital Management LLC increased its stake in shares of ASGN by 43.8% during the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after purchasing an additional 2,868 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after purchasing an additional 800 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after buying an additional 2,600 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

ASGN Stock Down 2.0 %

NYSE:ASGN opened at $88.88 on Friday. The company’s 50-day simple moving average is $93.12 and its 200-day simple moving average is $92.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. ASGN has a fifty-two week low of $83.71 and a fifty-two week high of $106.42. The stock has a market capitalization of $3.93 billion, a P/E ratio of 22.50 and a beta of 1.37.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. On average, equities analysts anticipate that ASGN will post 5.17 earnings per share for the current fiscal year.

About ASGN

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.