Zacks Investment Research cut shares by ASGN (NYSE: ASGN – Get an Assessment) from a buy rating to a hold rating in a report released Friday, Zacks.com reports.
According to Zacks, “ASGN Incorporated provides IT and professional services in technology, digital, creative, engineering and life sciences to the commercial and government sectors. Operating through its Apex, Oxford and ECS segments, ASGN helps enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of IT and professional recruitment solutions. “
A number of other research analysts have also weighed in on the stock recently. Credit Suisse Group downgraded shares of ASGN from a neutral rating to an underperforming rating and lowered its price target for the company from $110.00 to $90.00 in a research report on Wednesday. StockNews.com began covering ASGN shares in a research note on Thursday, March 31. They set a buy rating for the company. Jefferies Financial Group cut its target price on ASGN shares from $125.00 to $101.00 in a research note on Friday. Bank of America began covering ASGN’s stock in a research note on Friday, March 11. They issued a buy rating for the company. Finally, BMO Capital Markets downgraded ASGN’s shares from an outperform rating to a market performance rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $116.83.
Shares of NYSE:ASGN opened at $95.62 on Friday. ASGN has a 12-month low of $90.96 and a 12-month high of $131.89. The company has a current ratio of 2.99, a quick ratio of 1.14 and a debt ratio of 0.55. The company has a 50-day moving average price of $111.30 and a 200-day moving average price of $115.33. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 11.88, a growth price-to-earnings ratio of 0.99 and a beta of 1.89.
ASGN (NYSE:ASGN – Get Rating) last reported quarterly earnings data on Wednesday, April 27. The business services provider reported earnings per share of $1.57 for the quarter, beating analyst consensus estimates of $1.37 by $0.20. ASGN had a net margin of 10.21% and a return on equity of 17.55%. During the same period of the previous year, the company achieved EPS of $1.15. As a group, research analysts expect ASGN to post EPS of 6.46 for the current fiscal year.
A number of institutional investors and hedge funds have recently changed their positions in ASGN. FDx Advisors Inc. increased its stake in ASGN by 5.1% in Q1. FDx Advisors Inc. now owns 4,459 shares of the business services provider valued at $520,000 after buying 217 additional shares last quarter. Crossmark Global Holdings Inc. increased its equity stake in ASGN by 2.2% in Q1. Crossmark Global Holdings Inc. now owns 4,590 shares of the business services provider valued at $536,000 after buying an additional 100 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in ASGN shares by 119.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 10,974 shares of the business services provider valued at $697,000 after buying an additional 5,974 shares last quarter. Argent Capital Management LLC increased its ASGN equity stake by 18.1% in Q1. Argent Capital Management LLC now owns 8,773 shares of the business services provider valued at $1,024,000 after buying an additional 1,342 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in ASGN shares by 82.6% in the 1st quarter. SG Americas Securities LLC now owns 14,385 shares of the business services provider valued at $1,679,000 after buying an additional 6,507 shares last quarter. Institutional investors hold 94.33% of the company’s shares.
About ASGN (Get a rating)
ASGN Incorporated provides information technology services and professional solutions in the areas of technology, digital and creative for the commercial and government sectors in the United States. It operates through two segments: Commercial and Federal Government. The Commercial segment provides consulting, creative digital marketing and permanent placement services primarily to Fortune 1000 and middle market clients.
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