ASGN (NYSE:ASGN) Stock Rating Upgraded by BMO Capital Markets

BMO Capital Markets upgraded shares of ASGN (NYSE:ASGN - Free Report) from a market perform rating to an outperform rating in a research note released on Friday morning, MarketBeat reports. BMO Capital Markets currently has $100.00 price target on the business services provider's stock, up from their previous price target of $96.00.

A number of other research firms also recently weighed in on ASGN. Jefferies Financial Group dropped their price target on ASGN from $95.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, September 9th. Canaccord Genuity Group reissued a "buy" rating and set a $115.00 price objective on shares of ASGN in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ASGN has an average rating of "Hold" and an average price target of $97.89.

ASGN Price Performance

ASGN stock traded up $4.63 during midday trading on Friday, reaching $89.13. 480,525 shares of the stock were exchanged, compared to its average volume of 303,851. The stock has a market capitalization of $3.94 billion, a PE ratio of 21.43 and a beta of 1.40. ASGN has a 52 week low of $83.71 and a 52 week high of $106.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The company has a fifty day moving average price of $93.61 and a 200 day moving average price of $93.33.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The business's revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, analysts expect that ASGN will post 5.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jonathan S. Holman sold 503 shares of the business'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 value of $45,496.35. Following the completion of the transaction, the director now directly owns 10,821 shares in the company, valued at $978,759.45. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arshad Matin sold 2,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the transaction, the director now owns 11,645 shares of the company's stock, valued at approximately $1,077,278.95. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,763 shares of company stock worth $1,398,986 over the last three months. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On ASGN

Hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in ASGN in the 1st quarter worth approximately $154,000. Crossmark Global Holdings Inc. grew its position in ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider's stock worth $505,000 after purchasing an additional 800 shares during the period. Argent Capital Management LLC grew its position in ASGN by 43.8% in the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider's stock worth $830,000 after purchasing an additional 2,868 shares during the period. Handelsbanken Fonder AB grew its position in ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider's stock worth $1,102,000 after purchasing an additional 2,600 shares during the period. Finally, SG Americas Securities LLC grew its position in ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider's stock worth $1,753,000 after purchasing an additional 18,868 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

ASGN Company Profile

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.