ASGN (NYSE:ASGN) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of ASGN (NYSE:ASGN) in a report issued on Thursday, Benzinga reports. Canaccord Genuity Group currently has a $115.00 price target on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets decreased their target price on shares of ASGN from $95.00 to $94.00 and set a market perform rating on the stock in a research report on Friday, April 26th. Robert W. Baird raised their target price on shares of ASGN from $99.00 to $104.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $97.22.

ASGN Price Performance

ASGN stock opened at $94.86 on Thursday. The firm’s 50-day moving average is $92.85 and its two-hundred day moving average is $96.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.51 and a quick ratio of 2.51. ASGN has a 12-month low of $75.85 and a 12-month high of $106.42. The stock has a market capitalization of $4.35 billion, a P/E ratio of 21.96, a P/E/G ratio of 7.98 and a beta of 1.40.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share (EPS) 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company earned $1.59 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts predict that ASGN will post 5.18 earnings per share for the current year.

Insider Activity

In other news, President Randolph C. Blazer sold 6,000 shares of ASGN stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $588,000.00. Following the sale, the president now owns 101,923 shares in the company, valued at $9,988,454. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Carol Lindstrom sold 1,000 shares of ASGN stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total transaction of $97,040.00. Following the sale, the director now owns 5,639 shares in the company, valued at $547,208.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Randolph C. Blazer sold 6,000 shares of ASGN stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $588,000.00. Following the sale, the president now owns 101,923 shares in the company, valued at approximately $9,988,454. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Institutional Trading of ASGN

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in shares of ASGN in the first quarter worth $154,000. Meadow Creek Wealth Advisors LLC bought a new stake in shares of ASGN in the first quarter worth $512,000. Argent Capital Management LLC increased its stake in shares of ASGN by 8.9% in the fourth quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock worth $569,000 after buying an additional 484 shares during the last quarter. SG Americas Securities LLC increased 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 last quarter. Finally, Reinhart Partners LLC. increased its stake in shares of ASGN by 0.9% in the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock worth $57,440,000 after buying an additional 4,931 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.