Wells Fargo & Co Lowers ASGN (NYSE:ASGN) Price Target to $82.00

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ASGN (NYSE:ASGN) had its price target reduced by investment analysts at Wells Fargo & Co from $96.00 to $82.00 in a report released on Thursday, October 25th, The Fly reports. The firm currently has an “outperform” rating on the business services provider’s stock. Wells Fargo & Co’s target price indicates a potential upside of 21.48% from the stock’s previous close.

ASGN has been the subject of a number of other research reports. Zacks Investment Research raised shares of ASGN from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Wednesday, August 15th. Bank of America started coverage on shares of ASGN in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $84.00 price objective for the company. Robert W. Baird reissued a “neutral” rating on shares of ASGN in a research note on Thursday, July 26th. ValuEngine downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, Credit Suisse Group started coverage on shares of ASGN in a research note on Friday, August 10th. They issued a “neutral” rating and a $92.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.00.

Shares of ASGN stock traded up $0.26 during trading on Thursday, reaching $67.50. 249,531 shares of the stock traded hands, compared to its average volume of 494,671. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.30 and a beta of 2.00. The company has a quick ratio of 2.28, a current ratio of 2.22 and a debt-to-equity ratio of 1.02. ASGN has a 52-week low of $58.84 and a 52-week high of $94.25.

ASGN (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, October 24th. The business services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.20. ASGN had a return on equity of 20.29% and a net margin of 5.69%. The firm had revenue of $906.40 million during the quarter, compared to analyst estimates of $892.87 million. During the same quarter last year, the business posted $0.83 earnings per share. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts expect that ASGN will post 4.39 EPS for the current fiscal year.

In other ASGN news, SVP Jennifer Hankes Painter acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $65.87 per share, with a total value of $65,870.00. Following the completion of the acquisition, the senior vice president now directly owns 16,019 shares in the company, valued at approximately $1,055,171.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider George H. Wilson acquired 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average cost of $66.76 per share, for a total transaction of $247,012.00. Following the completion of the acquisition, the insider now owns 3,700 shares of the company’s stock, valued at $247,012. The disclosure for this purchase can be found here. Insiders have bought 39,950 shares of company stock valued at $2,656,625 in the last ninety days. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Leith Wheeler Investment Counsel Ltd. purchased a new position in ASGN in the second quarter worth $2,978,000. Clinton Group Inc. purchased a new position in ASGN in the second quarter worth $3,189,000. KAMES CAPITAL plc purchased a new position in ASGN in the second quarter worth $52,679,000. State of Alaska Department of Revenue purchased a new position in ASGN in the second quarter worth $1,257,000. Finally, Xact Kapitalforvaltning AB purchased a new position in ASGN in the second quarter worth $659,000. 90.27% of the stock is currently owned by institutional investors.

ASGN Company Profile

ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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