ASGN (ASGN) Downgraded by ValuEngine to Sell

ValuEngine lowered shares of ASGN (NYSE:ASGN) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other brokerages have also recently commented on ASGN. Zacks Investment Research cut ASGN from a buy rating to a hold rating in a research note on Tuesday, September 25th. Bank of America started coverage on ASGN in a research note on Tuesday, October 23rd. They set a buy rating and a $84.00 price objective on the stock. Credit Suisse Group started coverage on ASGN in a research note on Friday, August 10th. They set a neutral rating and a $92.00 price objective on the stock. BMO Capital Markets boosted their price objective on ASGN from $79.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, October 25th. Finally, Robert W. Baird reduced their price objective on ASGN from $91.00 to $67.00 and set a neutral rating on the stock in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $80.00.

Shares of ASGN stock opened at $61.64 on Friday. ASGN has a twelve month low of $58.84 and a twelve month high of $94.25. The firm has a market capitalization of $3.23 billion, a P/E ratio of 20.21, a PEG ratio of 1.19 and a beta of 2.02. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.22 and a current ratio of 2.22.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, October 24th. The business services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.20. ASGN had a return on equity of 20.29% and a net margin of 5.69%. The firm had revenue of $906.40 million for the quarter, compared to analysts’ expectations of $892.87 million. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, equities research analysts predict that ASGN will post 4.39 EPS for the current year.

In other ASGN news, CEO Peter T. Dameris purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average price of $65.92 per share, for a total transaction of $988,800.00. Following the completion of the purchase, the chief executive officer now owns 118,580 shares in the company, valued at approximately $7,816,793.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider George H. Wilson purchased 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was acquired at an average price of $66.76 per share, for a total transaction of $247,012.00. Following the purchase, the insider now owns 3,700 shares of the company’s stock, valued at approximately $247,012. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 54,950 shares of company stock worth $3,645,425. 3.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in shares of ASGN in the second quarter worth about $122,000. Victory Capital Management Inc. acquired a new position in shares of ASGN in the second quarter worth about $132,000. Mount Yale Investment Advisors LLC acquired a new position in shares of ASGN in the second quarter worth about $146,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of ASGN in the second quarter worth about $158,000. Finally, Trexquant Investment LP acquired a new position in shares of ASGN in the second quarter worth about $201,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

About ASGN

ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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