BMO Capital Markets Raises ASGN (NYSE:ASGN) Price Target to $96.00

ASGN (NYSE:ASGN) had its price objective raised by equities researchers at BMO Capital Markets from $94.00 to $96.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 2.97% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday. Jefferies Financial Group cut their target price on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.44.

ASGN Stock Performance

NYSE ASGN traded down $0.64 during trading hours on Friday, reaching $93.23. 121,163 shares of the company were exchanged, compared to its average volume of 292,809. The stock has a market capitalization of $4.28 billion, a P/E ratio of 21.65 and a beta of 1.40. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. ASGN has a 1 year low of $77.37 and a 1 year high of $106.42. The business’s 50 day simple moving average is $93.74 and its 200-day simple moving average is $93.96.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. ASGN’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts expect that ASGN will post 5.14 earnings per share for the current year.

Insider Activity at ASGN

In other ASGN news, Director Arshad Matin sold 2,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the transaction, the director now directly owns 11,645 shares of the company’s stock, valued at $1,077,278.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ASGN news, Director Jonathan S. Holman sold 503 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total value of $45,496.35. Following the sale, the director now owns 10,821 shares of the company’s stock, valued at $978,759.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now owns 11,645 shares of the company’s stock, valued at approximately $1,077,278.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ASGN

Several hedge funds have recently bought and sold shares of the stock. LRI Investments LLC bought a new position in shares of ASGN in the 1st quarter worth $154,000. Meadow Creek Wealth Advisors LLC bought a new position in ASGN in the first quarter valued at $512,000. Argent Capital Management LLC raised its position in ASGN by 43.8% during the second 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. Handelsbanken Fonder AB lifted its stake in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after purchasing an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of 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 worth $1,753,000 after purchasing an additional 18,868 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.