Credit Suisse Group Raises ASGN (NYSE:ASGN) Price Target to $60.00

ASGN (NYSE:ASGN) had its price objective upped by Credit Suisse Group from $50.00 to $60.00 in a research note published on Thursday morning, The Fly reports. They currently have a neutral rating on the business services provider’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Co restated a buy rating and set a $60.00 target price (up from $57.00) on shares of ASGN in a research report on Friday, May 1st. ValuEngine downgraded shares of ASGN from a hold rating to a sell rating in a research report on Thursday, April 2nd. TheStreet upgraded shares of ASGN from a c rating to a b- rating in a research report on Wednesday, June 3rd. Robert W. Baird boosted their target price on shares of ASGN from $49.00 to $55.00 and gave the company a neutral rating in a research report on Monday, May 4th. Finally, Royal Bank of Canada boosted their target price on shares of ASGN from $54.00 to $75.00 and gave the company an outperform rating in a research report on Friday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. ASGN presently has an average rating of Buy and a consensus price target of $65.25.

NYSE:ASGN opened at $68.46 on Thursday. ASGN has a 12 month low of $29.04 and a 12 month high of $72.66. The firm has a fifty day simple moving average of $65.28 and a 200-day simple moving average of $56.10. The company has a current ratio of 2.39, a quick ratio of 2.19 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3.59 billion, a P/E ratio of 19.23, a PEG ratio of 3.12 and a beta of 2.34.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.27. ASGN had a net margin of 4.79% and a return on equity of 18.50%. The business had revenue of $936.80 million during the quarter, compared to the consensus estimate of $898.82 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts forecast that ASGN will post 3.98 EPS for the current year.

In other ASGN news, Director Jonathan S. Holman sold 500 shares of ASGN stock in a transaction on Friday, May 8th. The shares were sold at an average price of $54.42, for a total value of $27,210.00. Following the completion of the transaction, the director now owns 14,005 shares of the company’s stock, valued at $762,152.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Randolph C. Blazer sold 10,000 shares of ASGN stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $65.58, for a total transaction of $655,800.00. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $2,403,163 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of ASGN by 1.6% during the first quarter. State Street Corp now owns 1,637,245 shares of the business services provider’s stock worth $57,827,000 after purchasing an additional 26,048 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of ASGN by 13.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,087,916 shares of the business services provider’s stock worth $77,210,000 after purchasing an additional 133,001 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ASGN by 7.5% during the first quarter. Geode Capital Management LLC now owns 737,378 shares of the business services provider’s stock worth $26,043,000 after purchasing an additional 51,439 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of ASGN by 212.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 660,095 shares of the business services provider’s stock worth $23,315,000 after purchasing an additional 448,820 shares in the last quarter. Finally, Pathstone Family Office LLC increased its stake in shares of ASGN by 1.4% during the first quarter. Pathstone Family Office LLC now owns 646,691 shares of the business services provider’s stock worth $22,841,000 after purchasing an additional 9,049 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

ASGN Company Profile

ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of 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 leading corporate enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions.

Featured Article: What is the CAC 40 Index?

The Fly

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 MarketBeat.com's FREE daily email newsletter.