ASGN Incorporated (NYSE:ASGN) Receives $97.83 Consensus Price Target from Brokerages

ASGN Incorporated (NYSE:ASGN) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $95.40.

Several research analysts have recently commented on the company. StockNews.com lowered ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group cut 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. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research report on Thursday, October 24th. Finally, BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $96.00 to $100.00 in a report on Friday, November 22nd.

ASGN Price Performance

Shares of ASGN stock opened at $85.21 on Tuesday. The company has a fifty day moving average of $89.18 and a 200-day moving average of $91.57. 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 has a market capitalization of $3.77 billion, a price-to-earnings ratio of 21.57 and a beta of 1.38. ASGN has a 52-week low of $82.04 and a 52-week high of $106.42.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.68 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts expect that ASGN will post 5.17 EPS for the current year.

Insider Activity

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

Institutional Trading of ASGN

Hedge funds and other institutional investors have recently modified their holdings of the company. Reinhart Partners LLC. increased its position in 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 purchasing an additional 39,607 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after buying an additional 2,600 shares during the last quarter. Argent Capital Management LLC grew its stake in shares of ASGN by 12.1% in the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock valued at $984,000 after buying an additional 1,142 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in ASGN by 17.3% in 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 last quarter. Finally, Cim Investment Management Inc. bought a new position in ASGN during the third quarter valued at approximately $205,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

About ASGN

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.