ASGN Incorporated (NYSE:ASGN) Given Consensus Recommendation of “Hold” by Brokerages

ASGN Incorporated (NYSE:ASGN) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities 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 company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $97.22.

A number of brokerages recently weighed in on ASGN. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a report on Thursday, July 25th. Jefferies Financial Group decreased their price target 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.

ASGN Stock Performance

NYSE:ASGN opened at $93.25 on Friday. The company’s 50-day moving average price is $93.62 and its 200-day moving average price is $95.17. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.28 billion, a P/E ratio of 21.59, a P/E/G ratio of 14.49 and a beta of 1.40. ASGN has a twelve month low of $76.70 and a twelve month high of $106.42.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.03. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $1.59 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts forecast that ASGN will post 5.17 earnings per share for the current fiscal year.

Insider Activity

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the business’s 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 transaction, the director now directly owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Arshad Matin sold 2,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now directly owns 11,645 shares in the company, valued at approximately $1,077,278.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan S. Holman sold 503 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the sale, the director now owns 10,821 shares in the company, valued at $978,759.45. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

Institutional investors and hedge funds have recently made changes to their positions in the business. Argent Capital Management LLC lifted its holdings in shares of ASGN by 43.8% during the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after acquiring an additional 2,868 shares during the period. SG Americas Securities LLC lifted its holdings in shares of ASGN by 1,851.6% during the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 shares during the period. LRI Investments LLC purchased a new position in shares of ASGN during the 1st quarter worth about $154,000. Reinhart Partners LLC. increased its position in ASGN by 0.9% during the 1st quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock worth $57,440,000 after purchasing an additional 4,931 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new stake in ASGN during the 1st quarter worth approximately $512,000. 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.