ASGN (NYSE:ASGN) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of ASGN (NYSE:ASGN – Free Report) from a hold rating to a buy rating in a report released on Monday.

ASGN has been the subject of several other reports. BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, September 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ASGN presently has an average rating of “Hold” and an average target price of $97.83.

Check Out Our Latest Analysis on ASGN

ASGN Stock Down 0.2 %

ASGN stock opened at $83.34 on Monday. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 21.10 and a beta of 1.38. The company has a fifty day moving average price of $89.73 and a 200 day moving average price of $91.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. ASGN has a 12 month low of $82.04 and a 12 month high of $106.42.

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

Insider Buying and Selling

In other 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 sale, the president now directly owns 85,923 shares in the company, valued at $8,165,262.69. This represents a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Theodore S. Hanson sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total value of $119,568.00. Following the completion of the sale, the chief executive officer now directly owns 288,855 shares in the company, valued at approximately $28,781,512.20. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,260 shares of company stock valued at $1,168,469. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of ASGN

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cim Investment Management Inc. purchased a new position in shares of ASGN during the 3rd quarter worth about $205,000. Crossmark Global Holdings Inc. raised 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 purchasing an additional 800 shares during the period. Argent Capital Management LLC boosted its holdings 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 purchasing an additional 1,142 shares during the last quarter. Handelsbanken Fonder AB grew its stake 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 period. Finally, Reinhart Partners LLC. grew its stake in shares of ASGN by 7.2% during the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after buying an additional 39,607 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

About ASGN

(Get Free Report)

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.

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