ASGN Incorporated (NYSE:ASGN) Receives $97.83 Consensus PT from Analysts

by · The Markets Daily

Shares of ASGN Incorporated (NYSE:ASGN – Get Free Report) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $95.40.

Several equities research analysts recently issued reports on ASGN shares. Jefferies Financial Group decreased their target price on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research report on Monday, September 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 target price on shares of ASGN in a report on Thursday, October 24th. BMO Capital Markets upgraded shares of ASGN from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $96.00 to $100.00 in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday.

Read Our Latest Research Report on ASGN

Insider Activity

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

Institutional Trading of ASGN

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

ASGN Price Performance

ASGN stock opened at $85.21 on Tuesday. 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 firm has a market capitalization of $3.77 billion, a PE ratio of 21.57 and a beta of 1.38. The firm’s 50-day simple moving average is $89.18 and its 200 day simple moving average is $91.57. ASGN has a 52 week low of $82.04 and a 52 week 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 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.68 EPS. ASGN’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts predict that ASGN will post 5.17 EPS for the current fiscal year.

ASGN Company Profile

(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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