ASGN (NYSE:ASGN) Rating Lowered to “Hold” at StockNews.com

ASGN (NYSE:ASGN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, ASGN currently has an average rating of “Hold” and a consensus target price of $101.75.

ASGN Price Performance

NYSE:ASGN opened at $86.82 on Tuesday. ASGN has a 52-week low of $82.04 and a 52-week high of $106.42. The company has a market cap of $3.84 billion, a P/E ratio of 21.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The stock’s 50-day simple moving average is $89.01 and its 200 day simple moving average is $91.56.

ASGN (NYSE:ASGN) last posted 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 EPS. As a group, sell-side analysts forecast that ASGN will post 5.17 EPS for the current fiscal year.

Insider Transactions at ASGN

In other news, Director Carol Lindstrom sold 1,060 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $93.02, for a total transaction of $98,601.20. Following the completion of the transaction, the director now owns 4,579 shares of the company’s stock, valued at approximately $425,938.58. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $95.03, for a total value of $950,300.00. Following the sale, the president now owns 85,923 shares of the company’s stock, valued at approximately $8,165,262.69. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,260 shares of company stock valued at $1,168,469. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Reinhart Partners LLC. boosted 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 valued at $54,912,000 after purchasing an additional 39,607 shares in the last quarter. Handelsbanken Fonder AB boosted its position in ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after buying an additional 2,600 shares during the period. Cim Investment Management Inc. acquired a new stake in ASGN during the 3rd quarter worth approximately $205,000. Argent Capital Management LLC grew its holdings in ASGN by 12.1% during the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position 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 acquiring an additional 800 shares during the period. Institutional investors own 95.36% of the company’s stock.

ASGN Company Profile

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.