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

ASGN Incorporated (NYSE:ASGN) has received an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $95.40.

ASGN has been the topic of a number of research reports. Jefferies Financial Group cut 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. StockNews.com raised shares of ASGN from a “hold” rating to a “buy” rating in a report on Monday, December 30th. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $115.00 price objective on shares of ASGN in a research note on Thursday, October 24th.

Insiders Place Their Bets

In related news, Director Carol Lindstrom sold 1,060 shares of ASGN stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $93.02, for a total value of $98,601.20. Following the completion of the sale, the director now directly owns 4,579 shares in the company, valued at $425,938.58. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Theodore S. Hanson sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $99.64, for a total transaction of $119,568.00. Following the sale, the chief executive officer now directly owns 288,855 shares in the company, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,260 shares of company stock valued at $1,168,469. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASGN

Large investors have recently made changes to their positions in the stock. Cim Investment Management Inc. purchased a new position in ASGN in the 3rd quarter worth $205,000. Crossmark Global Holdings Inc. raised 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 worth $505,000 after purchasing an additional 800 shares during the last quarter. Argent Capital Management LLC lifted its holdings in shares of ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after purchasing an additional 1,142 shares during the period. Handelsbanken Fonder AB boosted its position 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 buying an additional 2,600 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in ASGN by 7.2% in the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $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.

ASGN Trading Up 2.6 %

Shares of NYSE ASGN opened at $85.05 on Tuesday. The business’s 50 day moving average price is $89.36 and its 200-day moving average price is $91.53. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 21.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. ASGN has a fifty-two week low of $82.04 and a fifty-two week high of $106.42.

ASGN (NYSE:ASGN) last posted 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 net margin of 4.37% and a return on equity of 13.65%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts expect that ASGN will post 5.17 earnings per share for the current year.

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.