BMO Capital Markets Boosts ASGN (ASGN) Price Target to $80.00

ASGN (NYSE:ASGN) had its target price boosted by BMO Capital Markets from $79.00 to $80.00 in a research report released on Thursday morning. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

A number of other brokerages have also issued reports on ASGN. Zacks Investment Research lowered ASGN from a buy rating to a hold rating in a research note on Tuesday, September 25th. ValuEngine lowered ASGN from a buy rating to a hold rating in a research note on Saturday, October 6th. Credit Suisse Group began coverage on ASGN in a research note on Friday, August 10th. They issued a neutral rating and a $92.00 target price for the company. Bank of America began coverage on ASGN in a research note on Tuesday, October 23rd. They issued a buy rating and a $84.00 target price for the company. Finally, Wells Fargo & Co reduced their target price on ASGN from $96.00 to $82.00 and set an outperform rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $80.00.

ASGN stock opened at $65.38 on Thursday. The company has a quick ratio of 2.28, a current ratio of 2.22 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.42 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.33 and a beta of 1.94. ASGN has a 1-year low of $58.54 and a 1-year high of $94.25.



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

In other news, SVP Jennifer Hankes Painter bought 1,000 shares of ASGN stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $65.87 per share, for a total transaction of $65,870.00. Following the purchase, the senior vice president now directly owns 16,019 shares of the company’s stock, valued at approximately $1,055,171.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edwin A. Sheridan bought 20,000 shares of ASGN stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $65.33 per share, with a total value of $1,306,600.00. Following the purchase, the director now directly owns 21,686 shares in the company, valued at $1,416,746.38. The disclosure for this purchase can be found here. Insiders sold a total of 40,687 shares of company stock valued at $3,724,486 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. MA raised its stake in shares of ASGN by 1.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 48,191 shares of the business services provider’s stock valued at $3,804,000 after buying an additional 901 shares during the last quarter. Palo Capital Inc. purchased a new position in shares of ASGN during the 3rd quarter valued at about $2,691,000. First Quadrant L P CA raised its stake in shares of ASGN by 2,046.3% during the 3rd quarter. First Quadrant L P CA now owns 71,215 shares of the business services provider’s stock valued at $5,621,000 after buying an additional 67,897 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of ASGN by 3.2% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 39,298 shares of the business services provider’s stock valued at $31,012,000 after buying an additional 1,210 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of ASGN during the 3rd quarter valued at about $267,000. Institutional investors own 90.63% of the company’s stock.

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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