Jefferies Financial Group Trims ASGN (NYSE:ASGN) Target Price to $88.00

ASGN (NYSE:ASGN) had its target price trimmed by Jefferies Financial Group from $95.00 to $88.00 in a research report report published on Monday, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

Separately, Canaccord Genuity Group reissued a buy rating and issued a $115.00 target price on shares of ASGN in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $97.22.

ASGN Stock Performance

Shares of NYSE ASGN opened at $89.17 on Monday. The firm’s fifty day moving average is $93.02 and its two-hundred day moving average is $95.52. ASGN has a 52-week low of $76.70 and a 52-week high of $106.42. The company has a market cap of $4.09 billion, a P/E ratio of 20.64, a P/E/G ratio of 14.59 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.34 and a current ratio of 2.34.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 earnings per share. As a group, analysts anticipate that ASGN will post 5.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total value of $45,496.35. Following the sale, the director now owns 10,821 shares of the company’s stock, valued at $978,759.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASGN. Argent Capital Management LLC lifted its stake in shares of ASGN by 8.9% during the 4th quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock worth $569,000 after acquiring an additional 484 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of ASGN during the first quarter valued at $154,000. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of ASGN during the first quarter valued at $512,000. Reinhart Partners LLC. increased its stake in ASGN by 0.9% in the 1st quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock worth $57,440,000 after buying an additional 4,931 shares during the period. Finally, SG Americas Securities LLC increased its stake in ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after buying an additional 18,868 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.