Zacks Investment Research Downgrades ASGN (ASGN) to Hold

Zacks Investment Research cut shares of ASGN (NYSE:ASGN) from a buy rating to a hold rating in a report released on Thursday.

According to Zacks, “ASGN Incorporated provides IT and professional services primarily in the technology, creative/digital, engineering, life sciences and government sectors. ASGN Incorporated, formerly known as On Assignment Inc., is based California, United States. “

A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of ASGN from a hold rating to a sell rating in a research note on Friday, December 7th. BMO Capital Markets increased their price objective on shares of ASGN from $79.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, October 25th. Credit Suisse Group reduced their price objective on shares of ASGN from $92.00 to $78.00 and set a neutral rating on the stock in a research note on Thursday, October 25th. Wells Fargo & Co reduced their price objective on shares of ASGN from $96.00 to $82.00 and set an outperform rating on the stock in a research note on Thursday, October 25th. Finally, Robert W. Baird dropped their target price on shares of ASGN from $91.00 to $67.00 and set a neutral rating on the stock in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $76.75.



Shares of NYSE:ASGN traded up $0.68 during mid-day trading on Thursday, reaching $60.19. 250,549 shares of the company were exchanged, compared to its average volume of 419,319. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a market capitalization of $3.14 billion, a P/E ratio of 19.73, a PEG ratio of 1.08 and a beta of 2.08. ASGN has a 1 year low of $51.05 and a 1 year high of $94.25.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, October 24th. The business services provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.20. The company had revenue of $906.40 million for the quarter, compared to analyst estimates of $892.87 million. ASGN had a net margin of 5.69% and a return on equity of 20.29%. ASGN’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. Research analysts forecast that ASGN will post 4.39 earnings per share for the current fiscal year.

In other news, Director Brian J. Callaghan bought 15,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was bought at an average cost of $68.03 per share, for a total transaction of $1,020,450.00. Following the completion of the acquisition, the director now directly owns 408 shares in the company, valued at approximately $27,756.24. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edwin A. Sheridan bought 20,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was purchased at an average price of $65.33 per share, with a total value of $1,306,600.00. Following the completion of the acquisition, the director now owns 21,686 shares of the company’s stock, valued at $1,416,746.38. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 54,950 shares of company stock worth $3,645,425. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in shares of ASGN in the second quarter valued at approximately $122,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of ASGN in the 2nd quarter valued at $146,000. Ibex Investors LLC acquired a new stake in shares of ASGN in the 3rd quarter valued at $205,000. Janus Henderson Group PLC acquired a new stake in shares of ASGN in the 2nd quarter valued at $203,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of ASGN in the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

ASGN Company Profile

ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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