ASGN Incorporated (NYSE:ASGN) Short Interest Down 6.2% in August

ASGN Incorporated (NYSE:ASGN) was the target of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 1,360,000 shares, a decline of 6.2% from the July 31st total of 1,450,000 shares. Based on an average trading volume of 364,000 shares, the short-interest ratio is presently 3.7 days. Currently, 3.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and set a $115.00 target price on shares of ASGN in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ASGN presently has a consensus rating of “Hold” and an average price target of $97.22.

Hedge Funds Weigh In On ASGN

Hedge funds have recently made changes to their positions in the company. Reinhart Partners LLC. lifted its position in shares of ASGN by 0.9% in the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock valued at $57,440,000 after acquiring an additional 4,931 shares in the last quarter. SG Americas Securities LLC raised its stake in ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after purchasing an additional 18,868 shares during the last quarter. Argent Capital Management LLC lifted its holdings in ASGN by 43.8% in the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock valued at $830,000 after purchasing an additional 2,868 shares in the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in ASGN during the 1st quarter worth $512,000. Finally, LRI Investments LLC acquired a new stake in ASGN during the 1st quarter worth $154,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

ASGN Price Performance

Shares of NYSE ASGN opened at $96.16 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a fifty day moving average of $92.36 and a 200 day moving average of $95.72. The firm has a market cap of $4.41 billion, a PE ratio of 22.26, a PEG ratio of 15.63 and a beta of 1.40. ASGN has a one year low of $76.70 and a one year high of $106.42.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 earnings per share. As a group, research analysts predict that ASGN will post 5.17 EPS for the current fiscal year.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.