ASGN (NYSE:ASGN) Given Buy Rating at Canaccord Genuity Group

ASGN (NYSE:ASGN)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $115.00 price objective on the business services provider’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 23.58% from the stock’s previous close.

Separately, Jefferies Financial Group reduced their price objective on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.22.

ASGN Stock Performance

Shares of ASGN stock opened at $93.06 on Thursday. The business has a 50-day simple moving average of $93.67 and a 200 day simple moving average of $93.96. ASGN has a one year low of $76.70 and a one year high of $106.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 21.54 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 for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. ASGN’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts anticipate that ASGN will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ASGN news, Director Arshad Matin sold 2,000 shares of the 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ASGN news, Director Arshad Matin sold 2,000 shares of the company’s 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 completion of the transaction, the director now owns 11,645 shares in the company, valued at $1,077,278.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan S. Holman sold 503 shares of the firm’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 sale, the director now directly owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of ASGN

Hedge funds have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. increased its stake in shares of ASGN by 7.2% during 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 last quarter. SG Americas Securities LLC increased its position in 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 last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in ASGN in the first quarter worth $512,000. Argent Capital Management LLC raised its stake in shares of ASGN by 43.8% in the second quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock valued at $830,000 after buying an additional 2,868 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of ASGN by 28.2% during the 3rd 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. Institutional investors 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.