SunTrust Downgrades Administaff (ASF) to Neutral
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SunTrust Robinson Humphrey downgrades Administaff (NYSE: ASF) from Buy to Neutral.
The firm said it is concerned with Administaff's worksite employee growth, as SunTrust does not believe that the Company's guidance assumes net contributions from job growth at its existing customers. Consequently, SunTrust believes small business customers will trim headcount.
Administaff, Inc., a professional employer organization, provides various services in the area of personnel management in the United States. [BCS]
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