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

ASGN (NYSE:ASGN)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $115.00 target price on the business services provider’s stock. Canaccord Genuity Group’s price target points to a potential upside of 12.93% from the stock’s current price.

Several other brokerages have also recently commented on ASGN. BMO Capital Markets decreased their target price on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a 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 report on Thursday, April 25th. Two equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.22.

ASGN Stock Performance

Shares of ASGN opened at $101.83 on Thursday. The firm has a 50-day moving average price of $93.14 and a 200 day moving average price of $95.95. The firm has a market capitalization of $4.67 billion, a PE ratio of 23.57, a P/E/G ratio of 8.58 and a beta of 1.40. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. ASGN has a 52-week low of $75.85 and a 52-week high of $106.42.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.03. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $1.59 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that ASGN will post 5.28 earnings per share for the current fiscal year.

Insider Activity at ASGN

In related news, Director Marty R. Kittrell sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $98.61, for a total transaction of $98,610.00. Following the transaction, the director now owns 4,316 shares of the company’s stock, valued at $425,600.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ASGN news, Director Marty R. Kittrell sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $98.61, for a total transaction of $98,610.00. Following the transaction, the director now owns 4,316 shares in the company, valued at $425,600.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Randolph C. Blazer sold 6,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $98.00, for a total value of $588,000.00. Following the transaction, 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. Over the last quarter, insiders have sold 8,000 shares of company stock valued at $783,650. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ASGN

Hedge funds and other institutional investors have recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in shares of ASGN in the first quarter worth $154,000. Meadow Creek Wealth Advisors LLC acquired a new stake in ASGN during the first quarter worth $512,000. Argent Capital Management LLC boosted its stake in ASGN by 8.9% during 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 in the last quarter. SG Americas Securities LLC boosted its stake in ASGN by 1,851.6% during 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 in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in ASGN by 0.9% during 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 in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.