ASGN (ASGN) Downgraded by ValuEngine to Sell
ValuEngine cut shares of ASGN (NYSE:ASGN) from a hold rating to a sell rating in a research note issued to investors on Friday morning.
Several other equities research analysts have also commented on ASGN. Zacks Investment Research upgraded shares of ASGN from a hold rating to a buy rating and set a $101.00 target price on the stock in a research report on Wednesday, August 15th. Bank of America initiated coverage on shares of ASGN in a research note on Tuesday, October 23rd. They issued a buy rating and a $84.00 target price for the company. Credit Suisse Group initiated coverage on shares of ASGN in a research note on Friday, August 10th. They set a neutral rating and a $92.00 price objective for the company. Robert W. Baird dropped their price objective on shares of ASGN from $91.00 to $67.00 and set a neutral rating for the company in a research note on Thursday, October 25th. Finally, BMO Capital Markets increased their target price on shares of ASGN from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $80.00.
Shares of ASGN stock traded down $2.40 during trading on Friday, reaching $61.64. The company’s stock had a trading volume of 304,608 shares, compared to its average volume of 329,482. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.23 and a beta of 2.02. ASGN has a fifty-two week low of $58.84 and a fifty-two week high of $94.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.22 and a quick ratio of 2.22.
In related news, CEO Peter T. Dameris acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average cost of $65.92 per share, with a total value of $988,800.00. Following the purchase, the chief executive officer now owns 118,580 shares of the company’s stock, valued at $7,816,793.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edwin A. Sheridan acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $65.33 per share, for a total transaction of $1,306,600.00. Following the completion of the purchase, the director now directly owns 21,686 shares in the company, valued at approximately $1,416,746.38. The disclosure for this purchase can be found here. Insiders purchased a total of 54,950 shares of company stock valued at $3,645,425 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in ASGN by 5.0% in the 3rd quarter. Aperio Group LLC now owns 17,332 shares of the business services provider’s stock valued at $1,368,000 after purchasing an additional 825 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in ASGN by 1.9% in the third quarter. Congress Asset Management Co. MA now owns 48,191 shares of the business services provider’s stock valued at $3,804,000 after purchasing an additional 901 shares during the last quarter. Janus Henderson Group PLC grew its stake in ASGN by 38.5% in the third quarter. Janus Henderson Group PLC now owns 3,595 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 999 shares during the period. IndexIQ Advisors LLC grew its stake in ASGN by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 27,763 shares of the business services provider’s stock valued at $2,191,000 after acquiring an additional 1,048 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in ASGN by 5.0% in the third quarter. Louisiana State Employees Retirement System now owns 23,100 shares of the business services provider’s stock valued at $1,823,000 after acquiring an additional 1,100 shares during the period. 91.81% of the stock is currently owned by institutional investors.
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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