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

ASGN (NYSE:ASGN) had its price objective cut by BMO Capital Markets from $95.00 to $94.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target would suggest a potential downside of 4.33% from the stock’s previous close.

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

ASGN Stock Down 0.5 %

Shares of NYSE:ASGN traded down $0.47 on Friday, reaching $98.25. The company had a trading volume of 217,020 shares, compared to its average volume of 246,131. ASGN has a twelve month low of $63.27 and a twelve month high of $106.42. The stock has a 50-day moving average price of $99.59 and a 200 day moving average price of $93.36. The stock has a market capitalization of $4.57 billion, a P/E ratio of 22.75, a P/E/G ratio of 4.10 and a beta of 1.50. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. ASGN had a return on equity of 14.81% and a net margin of 4.76%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts expect that ASGN will post 5.79 EPS for the current year.

Insider Activity

In related news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the sale, the president now directly owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the sale, the senior vice president now directly owns 52,716 shares in the company, valued at approximately $4,935,271.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction 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 owns 107,923 shares in the company, valued at $10,178,218.13. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASGN. Reinhart Partners LLC. boosted its position in ASGN by 10.7% in the 4th quarter. Reinhart Partners LLC. now owns 543,369 shares of the business services provider’s stock valued at $52,256,000 after buying an additional 52,516 shares during the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in ASGN in the 1st quarter valued at $512,000. Kennedy Capital Management LLC lifted its stake in shares of ASGN by 3.6% in the 3rd 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 during the period. SG Americas Securities LLC lifted its stake in shares of ASGN by 8.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after purchasing an additional 1,193 shares during the period. Finally, Argent Capital Management LLC lifted its stake in shares of ASGN by 19.5% in the 3rd 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 during the period. 95.36% of the stock is currently owned by institutional investors.

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.