ASGN (NYSE:ASGN) Rating Lowered to Hold at Zacks Investment Research

ASGN (NYSE:ASGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “ASGN Incorporated provides IT and professional services primarily in the technology, creative/digital, engineering, life sciences and government sectors. ASGN Incorporated, formerly known as On Assignment Inc., is based California, United States. “

ASGN has been the subject of a number of other reports. ValuEngine lowered shares of ASGN from a “hold” rating to a “sell” rating in a report on Friday, October 25th. William Blair reiterated an “outperform” rating on shares of ASGN in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. ASGN presently has a consensus rating of “Buy” and a consensus price target of $72.83.

ASGN traded down $0.01 during midday trading on Wednesday, reaching $66.93. The company had a trading volume of 14,401 shares, compared to its average volume of 221,293. The business has a 50-day moving average of $64.87 and a two-hundred day moving average of $60.97. The company has a market cap of $3.54 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.61 and a beta of 1.92. ASGN has a 1 year low of $50.33 and a 1 year high of $69.35. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.79.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.08. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $998.20 million. ASGN had a return on equity of 19.01% and a net margin of 4.74%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. On average, equities research analysts predict that ASGN will post 4.58 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its stake in ASGN by 526.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 677 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 569 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of ASGN in the 3rd quarter valued at approximately $49,000. Private Capital Group LLC boosted its stake in ASGN by 47.2% in the 2nd quarter. Private Capital Group LLC now owns 802 shares of the business services provider’s stock worth $63,000 after purchasing an additional 257 shares during the period. Atria Investments LLC purchased a new position in ASGN during the 2nd quarter worth approximately $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in ASGN by 14.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,284 shares of the business services provider’s stock worth $206,000 after purchasing an additional 412 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

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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