RBC Capital Believes ASGN (NYSE: ASGN) Still Has Room to Grow

RBC Capital analyst Seth Weber maintained a Buy rating on ASGN (ASGNResearch Report) today and set a price target of $88.00. The company’s shares closed last Thursday at $70.13, close to its 52-week high of $72.66.

According to TipRanks.com, Weber is a 5-star analyst with an average return of 12.0% and a 63.5% success rate. Weber covers the Industrial Goods sector, focusing on stocks such as Allison Transmission Holdings, Manitowoc Company, and Navistar.

Currently, the analyst consensus on ASGN is a Moderate Buy with an average price target of $67.40, representing a -0.8% downside. In a report released today, Wells Fargo also maintained a Buy rating on the stock.

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Based on ASGN’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $991 million and net profit of $43.8 million. In comparison, last year the company earned revenue of $924 million and had a net profit of $34.9 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ASGN in relation to earlier this year.

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ASGN, Inc. provides information technology and professional services in the technology, creative, digital, engineering, and life sciences fields across commercial and government sectors. It operates through the following segments: Apex, Oxford, and ECS. The Apex segment provides technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients across the United States and Canada. The Oxford segment offers hard to find technical, digital, engineering, and life sciences services and solutions in select skill and geographic markets. The ECS segment delivers advanced solutions in cloud, cybersecurity, artificial intelligence, machine learning, software development, IT modernization, and science and engineering primarily focused on Federal Government activities. The company was founded on December 30, 1985 and is headquartered in Calabasas, CA.