ASGN (NYSE:ASGN) Stock Rating Upgraded by BMO Capital Markets

BMO Capital Markets upgraded shares of ASGN (NYSE:ASGN) from a market perform rating to an outperform rating in a research note published on Friday, Marketbeat reports. The brokerage currently has $100.00 price objective on the business services provider’s stock, up from their prior price objective of $96.00.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $115.00 price target on shares of ASGN in a research report on Thursday, October 24th. Jefferies Financial Group reduced their target price on 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, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.89.

ASGN Stock Up 2.4 %

Shares of NYSE ASGN opened at $91.35 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 stock has a market capitalization of $4.04 billion, a PE ratio of 22.96 and a beta of 1.40. ASGN has a one year low of $83.71 and a one year high of $106.42. The business’s fifty day moving average price is $93.54 and its 200-day moving average price is $93.18.

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 analysts’ consensus estimates of $1.35 by $0.08. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The business’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 firm posted $1.68 EPS. On average, equities research analysts anticipate that ASGN will post 5.17 EPS for the current year.

Insider Transactions at ASGN

In other news, CEO Theodore S. Hanson sold 1,200 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 288,855 shares of the company’s stock, valued at $28,781,512.20. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares of the company’s stock, valued at $1,077,278.95. This represents a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,763 shares of company stock valued at $1,398,986 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On ASGN

A number of large investors have recently made changes to their positions in the company. Reinhart Partners LLC. raised 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 purchasing an additional 39,607 shares during the period. SG Americas Securities LLC raised its stake in shares of ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after buying an additional 18,868 shares during the period. Argent Capital Management LLC grew its stake 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 valued at $830,000 after acquiring an additional 2,868 shares during the period. Handelsbanken Fonder AB raised its stake in ASGN by 28.2% during 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 during the period. Finally, Cim Investment Management Inc. bought a new position in shares of ASGN in the third quarter worth approximately $205,000. 95.36% of the stock is currently owned by institutional investors.

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.