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

ASGN (NYSE:ASGN) had its target price decreased by stock analysts at BMO Capital Markets from $95.00 to $94.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ target price would indicate a potential downside of 3.60% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $110.00 target price on shares of ASGN in a report on Wednesday, January 3rd. Truist Financial increased their price target on shares of ASGN from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Bank Of America (Bofa) restated an “underweight” rating and set a $70.00 price target on shares of ASGN in a research report on Monday, January 8th. Robert W. Baird increased their price target on shares of ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price target on shares of ASGN to $88.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.67.

ASGN Stock Performance

Shares of ASGN stock opened at $97.51 on Friday. The firm has a 50-day moving average of $99.60 and a 200-day moving average of $93.55. The company has a market cap of $4.53 billion, a P/E ratio of 22.57, a P/E/G ratio of 4.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.47 and a quick ratio of 2.47. ASGN has a one year low of $63.27 and a one year high of $106.42.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.16 EPS for the quarter, meeting the consensus estimate of $1.16. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. Equities research analysts forecast that ASGN will post 5.65 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ASGN

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