Royal Bank of Canada Initiates Coverage on ASGN (ASGN)

Equities research analysts at Royal Bank of Canada assumed coverage on shares of ASGN (NYSE:ASGN) in a research report issued to clients and investors on Tuesday, reports. The brokerage set an “outperform” rating and a $79.00 price target on the business services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.62% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. Credit Suisse Group cut their price target on shares of ASGN from $78.00 to $62.00 in a report on Friday, December 28th. BMO Capital Markets reissued a “buy” rating and set a $77.00 price target on shares of ASGN in a report on Monday, January 21st. Finally, Jefferies Financial Group initiated coverage on shares of ASGN in a report on Tuesday, March 12th. They set a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $74.00.

Shares of NYSE:ASGN traded down $0.83 during midday trading on Tuesday, reaching $67.74. 4,293 shares of the company’s stock were exchanged, compared to its average volume of 258,565. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.61 and a beta of 1.95. ASGN has a 12 month low of $51.05 and a 12 month high of $94.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.23 and a current ratio of 2.23.

ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The business had revenue of $929.65 million for the quarter, compared to the consensus estimate of $929.80 million. ASGN had a return on equity of 20.88% and a net margin of 4.64%. ASGN’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. Sell-side analysts forecast that ASGN will post 4.71 EPS for the current year.

In other ASGN news, Director William E. Brock sold 1,480 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $61.72, for a total value of $91,345.60. Following the completion of the transaction, the director now directly owns 17,513 shares of the company’s stock, valued at $1,080,902.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC bought a new position in shares of ASGN in the fourth quarter worth about $98,000. Group One Trading L.P. bought a new position in shares of ASGN in the fourth quarter worth about $100,000. Cutler Group LP raised its stake in shares of ASGN by 596.0% in the fourth quarter. Cutler Group LP now owns 2,102 shares of the business services provider’s stock worth $114,000 after acquiring an additional 1,800 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of ASGN in the fourth quarter worth about $120,000. Finally, Advisor Group Inc. grew its position in shares of ASGN by 12.7% during the 4th quarter. Advisor Group Inc. now owns 2,256 shares of the business services provider’s stock worth $123,000 after buying an additional 255 shares during the period. 90.15% of the stock is owned by institutional investors.

ASGN Company Profile

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.

Featured Article: What is insider trading?

Analyst Recommendations for ASGN (NYSE:ASGN)

Receive News & Ratings for ASGN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ASGN and related companies with's FREE daily email newsletter.


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit