Brokerages Set ASGN Incorporated (NYSE:ASGN) Price Target at $97.22

ASGN Incorporated (NYSE:ASGN) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $97.22.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price target 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. Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 price target on shares of ASGN in a research note on Thursday, July 25th.

ASGN Stock Performance

Shares of ASGN stock opened at $93.36 on Friday. 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 stock has a market cap of $4.29 billion, a PE ratio of 21.61 and a beta of 1.40. The stock has a 50-day moving average of $92.72 and a 200-day moving average of $94.91. ASGN has a one year low of $76.70 and a one year high of $106.42.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. ASGN’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 EPS. As a group, sell-side analysts expect that ASGN will post 5.15 earnings per share for the current year.

Insiders Place Their Bets

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the sale, the director now directly owns 10,821 shares in the company, valued at $978,759.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction that occurred on 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 directly owns 11,645 shares in the company, valued at $1,077,278.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jonathan S. Holman sold 503 shares of ASGN stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the sale, the director now owns 10,821 shares of the company’s stock, valued at $978,759.45. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC bought a new position in ASGN in the first quarter valued at approximately $154,000. Meadow Creek Wealth Advisors LLC bought a new position in ASGN in the first quarter valued at approximately $512,000. Argent Capital Management LLC increased its stake in ASGN by 8.9% in the fourth quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock valued at $569,000 after acquiring an additional 484 shares during the last quarter. SG Americas Securities LLC increased its stake 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 valued at $1,753,000 after acquiring an additional 18,868 shares during the last quarter. Finally, Reinhart Partners LLC. increased its stake in ASGN by 0.9% in the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock valued at $57,440,000 after acquiring an additional 4,931 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

About ASGN

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.