StockNews.com Begins Coverage on ASGN (NYSE:ASGN)

StockNews.com began coverage on shares of ASGN (NYSE:ASGN – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird cut their price target on ASGN from $108.00 to $103.00 and set a neutral rating for the company in a research note on Thursday, February 9th. William Blair reiterated an outperform rating on shares of ASGN in a research note on Friday, November 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $99.80.

ASGN Stock Performance

Shares of NYSE ASGN opened at $80.51 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.22 and a beta of 1.65. The stock’s fifty day moving average price is $88.36 and its two-hundred day moving average price is $88.68. ASGN has a one year low of $78.25 and a one year high of $124.35.

ASGN (NYSE:ASGN – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. ASGN had a net margin of 5.85% and a return on equity of 17.92%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $1.55 earnings per share. ASGN’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that ASGN will post 6.32 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Jennifer Hankes Painter sold 3,000 shares of ASGN stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $92.00, for a total transaction of $276,000.00. Following the sale, the senior vice president now directly owns 37,794 shares of the company’s stock, valued at approximately $3,477,048. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On ASGN

Several hedge funds have recently modified their holdings of ASGN. Paragon Wealth Strategies LLC bought a new position in ASGN in the third quarter valued at about $27,000. Eagle Bay Advisors LLC boosted its position in ASGN by 55.0% during the 2nd quarter. Eagle Bay Advisors LLC now owns 922 shares of the business services provider’s stock worth $83,000 after buying an additional 327 shares during the period. Captrust Financial Advisors grew its holdings in ASGN by 7.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,833 shares of the business services provider’s stock worth $165,000 after acquiring an additional 132 shares during the last quarter. FDx Advisors Inc. increased its position in ASGN by 5.4% in the 4th quarter. FDx Advisors Inc. now owns 4,116 shares of the business services provider’s stock valued at $335,000 after acquiring an additional 211 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of ASGN by 41.4% during the fourth quarter. SG Americas Securities LLC now owns 13,263 shares of the business services provider’s stock valued at $1,081,000 after acquiring an additional 3,886 shares during the last quarter. Institutional investors and hedge funds own 95.20% of the company’s stock.

About ASGN

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ASGN, Inc engages in the provision of information technology and professional services in the technology, digital, creative, engineering, and life sciences fields in the commercial and government sectors. It operates through the following segments: Apex, Oxford, and ECS. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.