ASGN (NYSE:ASGN) Price Target Cut to $94.00

ASGN (NYSE:ASGN) had its target price dropped by equities researchers at BMO Capital Markets from $95.00 to $94.00 in a research 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 target points to a potential downside of 4.33% from the company’s current price.

A number of other research analysts have also weighed in on ASGN. Robert W. Baird raised their price objective on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday. Bank Of America (Bofa) reaffirmed an “underweight” rating and issued a $70.00 target price on shares of ASGN in a research note on Monday, January 8th. Jefferies Financial Group raised their target price on ASGN to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of ASGN in a research note on Wednesday, January 3rd. Finally, Truist Financial raised their target price on ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.60.

ASGN Stock Performance

ASGN stock traded down $0.47 during mid-day trading on Friday, hitting $98.25. The company had a trading volume of 217,020 shares, compared to its average volume of 246,131. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.55. ASGN has a 12-month low of $63.27 and a 12-month high of $106.42. The company’s fifty day moving average is $99.59 and its 200-day moving average is $93.36. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.10 and a beta of 1.50.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.16. ASGN had a return on equity of 14.81% and a net margin of 4.76%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue was down 7.1% on a year-over-year basis. Equities research analysts predict that ASGN will post 5.79 EPS for the current year.

Insider Activity at ASGN

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

Hedge Funds Weigh In On ASGN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. EverSource Wealth Advisors LLC lifted 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 buying an additional 171 shares during the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in ASGN in the first quarter valued at approximately $512,000. Argent Capital Management LLC lifted 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 buying an additional 887 shares during the last quarter. SG Americas Securities LLC lifted its stake in 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 buying an additional 1,193 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted 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 buying an additional 3,787 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

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.