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

ASGN (NYSE:ASGN) had its target price lifted by investment analysts at BMO Capital Markets from $94.00 to $96.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 3.50% from the company’s previous close.

ASGN has been the subject of several other reports. Canaccord Genuity Group restated a “buy” rating and set a $115.00 price objective on shares of ASGN in a research report on Thursday. Jefferies Financial Group reduced their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.44.

ASGN Stock Down 1.2 %

Shares of NYSE ASGN opened at $92.75 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $93.77 and a 200 day moving average of $93.89. ASGN has a 12-month low of $77.37 and a 12-month high of $106.42. The stock has a market cap of $4.26 billion, a PE ratio of 21.47 and a beta of 1.40.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. As a group, sell-side analysts predict that ASGN will post 5.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total transaction of $45,496.35. Following the sale, the director now owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ASGN news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total transaction of $45,496.35. Following the sale, the director now directly owns 10,821 shares in the company, valued at $978,759.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Randolph C. Blazer sold 10,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $95.03, for a total transaction of $950,300.00. Following the completion of the transaction, the president now owns 85,923 shares of the company’s stock, valued at approximately $8,165,262.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,563 shares of company stock valued at $1,279,418. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of ASGN

Several hedge funds have recently added to or reduced their stakes in ASGN. Argent Capital Management LLC grew its holdings in ASGN by 12.1% during the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after acquiring an additional 1,142 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of ASGN by 7.2% during the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after purchasing an additional 39,607 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of 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 in the last quarter. SG Americas Securities LLC increased its holdings in ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after buying an additional 18,868 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in ASGN in the first quarter valued at $154,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.