Zacks Investment Research Upgrades ASGN (NYSE:ASGN) to Buy

ASGN (NYSE:ASGNGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $110.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.69% from the stock’s previous close.

According to Zacks, “ASGN Incorporated provides IT and professional services in the technology, digital, creative, engineering and life sciences fields across commercial and government sectors. Operating through its Apex, Oxford and ECS segments, ASGN helps corporate enterprises and government organizations develop, implement, and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions. “

A number of other equities analysts also recently weighed in on the stock. TheStreet raised shares of ASGN from a “c+” rating to a “b” rating in a research note on Thursday, May 12th. StockNews.com started coverage on shares of ASGN in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Bank of America started coverage on shares of ASGN in a research report on Friday, March 11th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, ASGN presently has an average rating of “Buy” and a consensus target price of $127.50.

NYSE ASGN traded up $0.53 during trading on Monday, hitting $98.49. 13,354 shares of the company’s stock traded hands, compared to its average volume of 220,723. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 1.14. The stock has a fifty day moving average of $113.13 and a two-hundred day moving average of $116.27. The firm has a market cap of $5.03 billion, a P/E ratio of 12.23, a PEG ratio of 0.99 and a beta of 1.89. ASGN has a 12-month low of $91.61 and a 12-month high of $131.89.

ASGN (NYSE:ASGNGet Rating) last posted its earnings results on Wednesday, April 27th. The business services provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.20. ASGN had a net margin of 10.21% and a return on equity of 17.55%. During the same quarter last year, the company earned $1.15 earnings per share. As a group, analysts expect that ASGN will post 6.46 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ASGN. SG Americas Securities LLC raised its position in shares of ASGN by 82.6% during the 1st quarter. SG Americas Securities LLC now owns 14,385 shares of the business services provider’s stock valued at $1,679,000 after purchasing an additional 6,507 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in 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 acquiring an additional 5,974 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in ASGN by 9.9% in the 1st quarter. Russell Investments Group Ltd. now owns 18,840 shares of the business services provider’s stock valued at $2,196,000 after acquiring an additional 1,697 shares during the last quarter. Argent Capital Management LLC increased its holdings in ASGN by 18.1% in the 1st quarter. Argent Capital Management LLC now owns 8,773 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 1,342 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in ASGN by 24.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,326 shares of the business services provider’s stock valued at $264,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

ASGN Company Profile (Get Rating)

ASGN Incorporated provides information technology services and professional solutions in the technology, digital, and creative fields for commercial and government sectors in the United States. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to Fortune 1000 and mid-market clients.

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