Canaccord Genuity Group Reaffirms Buy Rating for ASGN (NYSE:ASGN)

ASGN (NYSE:ASGN)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a note issued to investors on Thursday, Benzinga reports. They presently have a $115.00 target price on the business services provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 23.99% from the stock’s previous close.

Separately, Jefferies Financial Group cut their target price 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ASGN presently has a consensus rating of “Hold” and a consensus target price of $97.44.

ASGN Trading Down 1.2 %

Shares of ASGN stock opened at $92.75 on Thursday. ASGN has a 12-month low of $77.37 and a 12-month high of $106.42. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $93.77 and a 200-day moving average of $93.92. The firm has a market cap of $4.26 billion, a P/E ratio of 21.47 and a beta of 1.40.

ASGN (NYSE:ASGN) last issued its 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 14.30% and a net margin of 4.56%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts anticipate that ASGN will post 5.14 earnings per share for the current year.

Insider Activity

In other news, Director Arshad Matin sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the transaction, the director now directly owns 11,645 shares in the company, valued at approximately $1,077,278.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Arshad Matin sold 2,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan S. Holman sold 503 shares of ASGN 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 sale, the director now directly owns 10,821 shares of the company’s stock, valued at $978,759.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,563 shares of company stock worth $1,279,418 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Argent Capital Management LLC grew its stake in ASGN by 12.1% in the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after buying an additional 1,142 shares in the last quarter. LRI Investments LLC purchased a new position in ASGN in the first quarter worth $154,000. Handelsbanken Fonder AB increased its stake in ASGN by 28.2% in the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares during the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in ASGN during the first quarter valued at about $512,000. Finally, SG Americas Securities LLC lifted its stake 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 worth $1,753,000 after purchasing an additional 18,868 shares during the last quarter. 95.36% of the stock is currently owned by 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.