ASGN (NYSE:ASGN) Price Target Cut to $94.00 by Analysts at BMO Capital Markets

ASGN (NYSE:ASGN) had its target price reduced by BMO Capital Markets from $95.00 to $94.00 in a report released on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

ASGN has been the topic of a number of other reports. Canaccord Genuity Group reissued a buy rating and set a $110.00 price target on shares of ASGN in a research report on Wednesday, January 3rd. Truist Financial lifted their price objective on shares of ASGN from $93.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Bank Of America (Bofa) reaffirmed an underweight rating and issued a $70.00 price objective on shares of ASGN in a research report on Monday, January 8th. Robert W. Baird lifted their price objective on shares of ASGN from $99.00 to $104.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price objective on shares of ASGN to $88.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, ASGN currently has an average rating of Hold and an average target price of $93.60.

ASGN Stock Down 1.2 %

ASGN opened at $97.51 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.47 and a quick ratio of 2.47. The company’s 50-day moving average is $99.60 and its 200 day moving average is $93.47. ASGN has a fifty-two week low of $63.27 and a fifty-two week high of $106.42. The firm has a market capitalization of $4.53 billion, a P/E ratio of 22.57, a PEG ratio of 4.06 and a beta of 1.50.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.16. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $1.38 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Research analysts expect that ASGN will post 5.65 earnings per share for the current fiscal year.

Insider Activity

In other news, President Randolph C. Blazer sold 7,746 shares of the business’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 sale, the president now owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,935,271.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the business’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 transaction of $730,525.26. Following the transaction, the president now directly owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On ASGN

Several hedge funds have recently bought and sold shares of the company. Reinhart Partners LLC. grew its stake in ASGN by 0.9% during the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock valued at $57,440,000 after acquiring an additional 4,931 shares in the last quarter. Kennedy Capital Management LLC grew its stake in ASGN by 3.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock worth $9,005,000 after buying an additional 3,787 shares in the last quarter. SG Americas Securities LLC grew its stake in ASGN by 8.1% in the 3rd 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 grew its stake in ASGN by 8.9% in the 4th quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock worth $569,000 after buying an additional 484 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC purchased a new position in ASGN in the 1st quarter worth approximately $512,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.