BMO Capital Markets Increases ASGN (NYSE:ASGN) Price Target to $128.00

ASGN (NYSE:ASGN) had its price target boosted by BMO Capital Markets from $121.00 to $128.00 in a research note published on Thursday, The Fly reports. The brokerage currently has an outperform rating on the business services provider’s stock. The analysts noted that the move was a valuation call.

A number of other analysts have also commented on the company. Zacks Investment Research raised ASGN from a sell rating to a hold rating and set a $126.00 target price for the company in a research report on Tuesday, August 31st. Hanson reiterated a sell rating on shares of ASGN in a research note on Friday, August 20th.

Shares of NYSE ASGN opened at $110.73 on Thursday. The stock has a 50 day moving average price of $104.72 and a 200 day moving average price of $101.72. ASGN has a 52 week low of $61.70 and a 52 week high of $114.45. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market capitalization of $5.86 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.93 and a beta of 2.20.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.05. The firm had revenue of $974.90 million for the quarter, compared to analyst estimates of $964.25 million. ASGN had a return on equity of 16.66% and a net margin of 5.48%. As a group, research analysts forecast that ASGN will post 5.05 EPS for the current year.

In related news, CEO Theodore S. Hanson sold 8,902 shares of the stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $102.40, for a total value of $911,564.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore S. Hanson sold 45,098 shares of the stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $103.39, for a total transaction of $4,662,682.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,250 shares of company stock valued at $5,807,527. 3.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of ASGN by 476.1% during the second quarter. Amalgamated Bank now owns 41,252 shares of the business services provider’s stock valued at $3,999,000 after acquiring an additional 34,092 shares in the last quarter. Systematic Financial Management LP boosted its holdings in ASGN by 14.2% in the second quarter. Systematic Financial Management LP now owns 274,426 shares of the business services provider’s stock worth $26,600,000 after purchasing an additional 34,060 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in ASGN by 3.7% in the first quarter. TimesSquare Capital Management LLC now owns 736,965 shares of the business services provider’s stock worth $70,336,000 after purchasing an additional 26,260 shares during the last quarter. SG Americas Securities LLC boosted its holdings in ASGN by 153.2% in the first quarter. SG Americas Securities LLC now owns 17,578 shares of the business services provider’s stock worth $1,678,000 after purchasing an additional 10,637 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in ASGN by 1.2% in the first quarter. Schroder Investment Management Group now owns 659,207 shares of the business services provider’s stock worth $62,915,000 after purchasing an additional 7,707 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

ASGN Company Profile

ASGN, Inc engages in the provision of information technology and professional services in the technology, digital, creative, engineering, and life sciences fields in the commercial and government sectors. It operates through the following segments: Apex, Oxford, and ECS. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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