BMO Capital Markets Cuts ASGN (NYSE:ASGN) Price Target to $94.00

ASGN (NYSE:ASGN) had its target price reduced by BMO Capital Markets from $95.00 to $94.00 in a report issued on Friday morning, Benzinga reports. They currently have a market perform rating on the business services provider’s stock.

Several other research firms have also commented on ASGN. Canaccord Genuity Group restated a buy rating and issued a $110.00 price target on shares of ASGN in a report on Wednesday, January 3rd. Truist Financial upped their target price on ASGN from $93.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Jefferies Financial Group increased their target price on ASGN to $88.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Bank Of America (Bofa) reissued an underweight rating and issued a $70.00 price target on shares of ASGN in a research report on Monday, January 8th. Finally, Robert W. Baird upped their price objective on ASGN from $99.00 to $104.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $96.67.

ASGN Stock Up 1.2 %

Shares of NYSE:ASGN opened at $98.68 on Friday. The business’s 50 day moving average is $99.64 and its 200 day moving average is $93.72. The stock has a market cap of $4.59 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 7.08 and a beta of 1.50. ASGN has a 52-week low of $63.27 and a 52-week high of $106.42. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.56.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. ASGN had a return on equity of 14.90% and a net margin of 4.76%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. Sell-side analysts predict that ASGN will post 5.28 EPS for the current year.

Insider Buying and Selling

In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the transaction, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Randolph C. Blazer sold 7,746 shares of ASGN stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of the sale, the president now directly owns 107,923 shares in the company, valued at $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $93.62, for a total transaction of $102,982.00. Following the sale, the senior vice president now directly owns 52,716 shares in the company, valued at $4,935,271.92. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On ASGN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of ASGN by 8.1% in the third quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after purchasing an additional 1,193 shares during the period. Argent Capital Management LLC increased its holdings in ASGN by 19.5% in the 3rd quarter. Argent Capital Management LLC now owns 5,433 shares of the business services provider’s stock worth $444,000 after buying an additional 887 shares during the period. Reinhart Partners LLC. raised its position in ASGN by 6.0% during the 3rd quarter. Reinhart Partners LLC. now owns 490,853 shares of the business services provider’s stock worth $40,093,000 after buying an additional 27,871 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ASGN by 38.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 171 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of ASGN by 3.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock valued at $9,005,000 after acquiring an additional 3,787 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About ASGN

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.