ValuEngine Downgrades ASGN (NYSE:ASGN) to Sell

ASGN (NYSE:ASGN) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, ValuEngine reports.

ASGN has been the topic of several other research reports. William Blair reaffirmed an “outperform” rating on shares of ASGN in a research note on Friday, September 20th. Zacks Investment Research downgraded ASGN from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.00.

Shares of ASGN stock opened at $69.20 on Wednesday. The company has a market capitalization of $3.59 billion, a PE ratio of 15.80, a PEG ratio of 1.64 and a beta of 1.92. ASGN has a 12 month low of $50.33 and a 12 month high of $69.39. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $66.16 and its 200 day simple moving average is $61.51.

ASGN (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.08. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $998.20 million. ASGN had a return on equity of 19.01% and a net margin of 4.74%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. Analysts predict that ASGN will post 4.58 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. Amundi Pioneer Asset Management Inc. raised its stake in shares of ASGN by 119.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 10,974 shares of the business services provider’s stock valued at $697,000 after purchasing an additional 5,974 shares during the period. Arizona State Retirement System raised its stake in shares of ASGN by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 38,321 shares of the business services provider’s stock valued at $2,322,000 after purchasing an additional 512 shares during the period. SG Americas Securities LLC raised its stake in shares of ASGN by 21.6% in the 2nd quarter. SG Americas Securities LLC now owns 28,590 shares of the business services provider’s stock valued at $1,733,000 after purchasing an additional 5,087 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of ASGN by 15.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,056 shares of the business services provider’s stock valued at $1,337,000 after purchasing an additional 2,914 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of ASGN by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,740 shares of the business services provider’s stock valued at $590,000 after purchasing an additional 170 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

About ASGN

ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.

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Analyst Recommendations for ASGN (NYSE:ASGN)

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