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

Shares of ASGN Incorporated (NYSE:ASGN) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $97.22.

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $115.00 target price on shares of ASGN in a report on Thursday, July 25th. Jefferies Financial Group dropped their price objective on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, September 9th.

ASGN Stock Down 2.4 %

ASGN stock opened at $93.12 on Thursday. ASGN has a 1-year low of $76.70 and a 1-year high of $106.42. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 21.56 and a beta of 1.40. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $93.49 and its 200 day moving average is $94.01.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $1.59 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts predict that ASGN will post 5.14 EPS for the current fiscal year.

Insider Activity

In other ASGN news, Director Jonathan S. Holman sold 503 shares of ASGN stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total value of $45,496.35. Following the completion of the sale, the director now owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ASGN news, Director Arshad Matin sold 2,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the sale, the director now directly owns 11,645 shares in the company, valued at approximately $1,077,278.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director now directly owns 10,821 shares in the company, valued at $978,759.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of ASGN

Hedge funds have recently bought and sold shares of the company. Reinhart Partners LLC. raised its position in ASGN by 7.2% in the third 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 period. Handelsbanken Fonder AB raised its holdings in ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after purchasing an additional 2,600 shares during the period. Argent Capital Management LLC lifted its position in ASGN by 43.8% during the second quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock valued at $830,000 after purchasing an additional 2,868 shares in the last quarter. SG Americas Securities LLC lifted its position in ASGN by 1,851.6% during the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after purchasing an additional 18,868 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in ASGN during the first quarter valued at about $154,000. Hedge funds and other 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.