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

StockNews.com downgraded shares of ASGN (NYSE:ASGN) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other equities research analysts have also issued reports on ASGN. BMO Capital Markets raised shares of ASGN from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Jefferies Financial Group decreased their target price on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, September 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 target price on shares of ASGN in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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 firm has a market capitalization of $3.84 billion, a P/E ratio of 21.98 and a beta of 1.38. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $88.86 and a 200-day moving average price of $91.52.

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 for the quarter, compared to analysts’ expectations of $1.03 billion. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 EPS. Equities research analysts anticipate that ASGN will post 5.17 earnings per share for the current year.

Insider Activity at ASGN

In other news, CEO Theodore S. Hanson sold 1,200 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the sale, the chief executive officer now directly owns 288,855 shares in the company, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol Lindstrom sold 1,060 shares of ASGN stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $93.02, for a total value 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. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,260 shares of company stock valued at $1,168,469. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

Several institutional investors have recently modified their holdings of the stock. Cim Investment Management Inc. purchased a new stake in ASGN during the 3rd quarter valued at $205,000. Crossmark Global Holdings Inc. boosted its stake in ASGN by 17.3% during the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after buying an additional 800 shares during the period. Argent Capital Management LLC increased its position in ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock valued at $984,000 after acquiring an additional 1,142 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of ASGN by 28.2% in the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in shares of ASGN by 7.2% in the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after acquiring an additional 39,607 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

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.