ASGN (NYSE:ASGN) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of ASGN (NYSE:ASGN) from a market perform rating to an outperform rating in a report published on Friday morning, Marketbeat reports. They currently have $100.00 target price on the business services provider’s stock, up from their prior target price of $96.00.

Several other brokerages have also commented on ASGN. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of ASGN in a research note on Thursday, October 24th. Jefferies Financial Group decreased their price target on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, ASGN presently has a consensus rating of “Hold” and a consensus price target of $97.89.

ASGN Stock Performance

Shares of NYSE:ASGN opened at $89.24 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The business’s 50 day moving average price is $93.54 and its 200-day moving average price is $93.23. The firm has a market capitalization of $3.94 billion, a PE ratio of 22.59 and a beta of 1.40. ASGN has a 1 year low of $83.71 and a 1 year high of $106.42.

ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. As a group, equities research analysts expect that ASGN will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Theodore S. Hanson sold 1,200 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $99.64, for a total transaction of $119,568.00. Following the transaction, the chief executive officer now owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan S. Holman sold 503 shares of the stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at approximately $978,759.45. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,763 shares of company stock valued at $1,398,986. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

A number of hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its position in ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after purchasing an additional 800 shares in the last quarter. Argent Capital Management LLC grew its stake 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 buying an additional 1,142 shares during the last quarter. Reinhart Partners LLC. grew 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 last quarter. Handelsbanken Fonder AB grew its stake 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 valued at $1,102,000 after purchasing an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after purchasing an additional 18,868 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

ASGN Company Profile

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.