ASGN (NYSE:ASGN) Price Target Raised to $150.00

ASGN (NYSE:ASGN) had its target price hoisted by Truist Securities from $130.00 to $150.00 in a research report report published on Tuesday morning, Stock Target Advisor reports. Truist Securities also issued estimates for ASGN’s Q1 2022 earnings at $1.24 EPS, Q2 2022 earnings at $1.46 EPS, Q3 2022 earnings at $1.65 EPS, Q4 2022 earnings at $1.57 EPS, FY2022 earnings at $5.91 EPS and FY2023 earnings at $6.59 EPS.

Several other equities analysts also recently commented on the stock. BMO Capital Markets upped their price target on shares of ASGN from $121.00 to $128.00 and gave the company an outperform rating in a report on Thursday, September 16th. They noted that the move was a valuation call. Truist upped their price target on shares of ASGN from $130.00 to $150.00 in a report on Tuesday. Robert W. Baird upped their price target on shares of ASGN from $117.00 to $122.00 and gave the company a neutral rating in a report on Monday, September 27th. Finally, Zacks Investment Research downgraded shares of ASGN from a buy rating to a hold rating in a report on Tuesday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $132.50.

ASGN stock opened at $118.45 on Tuesday. The company’s 50-day moving average price is $123.86 and its 200-day moving average price is $113.22. ASGN has a twelve month low of $82.69 and a twelve month high of $131.89. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.56. The company has a market cap of $6.17 billion, a PE ratio of 16.66 and a beta of 2.03.

ASGN (NYSE:ASGN) last posted its earnings results on Tuesday, October 26th. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. ASGN had a net margin of 9.31% and a return on equity of 16.93%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 EPS. As a group, sell-side analysts expect that ASGN will post 5.28 earnings per share for the current fiscal year.

In other news, insider Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $120.05, for a total value of $1,200,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward L. Pierce sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $128.25, for a total transaction of $3,847,500.00. The disclosure for this sale can be found here. Insiders sold a total of 71,500 shares of company stock worth $8,962,755 over the last 90 days. Insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ASGN. O Shaughnessy Asset Management LLC lifted its position in shares of ASGN by 24.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,326 shares of the business services provider’s stock worth $264,000 after purchasing an additional 450 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of ASGN by 119.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 10,974 shares of the business services provider’s stock worth $697,000 after purchasing an additional 5,974 shares during the period. Stanley Laman Group Ltd. lifted its position in shares of ASGN by 6.1% in the 3rd quarter. Stanley Laman Group Ltd. now owns 20,501 shares of the business services provider’s stock worth $2,319,000 after purchasing an additional 1,170 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of ASGN by 0.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 22,030 shares of the business services provider’s stock worth $2,492,000 after purchasing an additional 151 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of ASGN by 52.1% in the 2nd quarter. SG Americas Securities LLC now owns 26,736 shares of the business services provider’s stock worth $2,592,000 after purchasing an additional 9,158 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

About ASGN

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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