ASGN Incorporated (ASGN)’s Trend Up, Especially After Forming a Multiple Top Chart Pattern

May 21, 2018 - By Kurt Siggers

ASGN Incorporated (NYSE:ASGN) Logo

Investors sentiment increased to 1.17 in Q4 2017. Its up 0.12, from 1.05 in 2017Q3. It improved, as 14 investors sold ASGN Incorporated shares while 80 reduced holdings. 51 funds opened positions while 59 raised stakes. 46.95 million shares or 2.50% more from 45.80 million shares in 2017Q3 were reported.
2,190 were accumulated by Winslow Evans And Crocker. Pathstone Family Office Limited Co, a New Jersey-based fund reported 244,064 shares. Cim Mangement stated it has 0.19% of its portfolio in ASGN Incorporated (NYSE:ASGN). Laurion Cap Mgmt L P holds 0.01% in ASGN Incorporated (NYSE:ASGN) or 22,956 shares. Phocas Corp accumulated 110,374 shares or 0.59% of the stock. Columbus Circle invested in 453,262 shares. Dana Inv Advsr owns 0.12% invested in ASGN Incorporated (NYSE:ASGN) for 41,271 shares. Shelton Cap Mgmt invested in 0.02% or 4,366 shares. Alphaone Ltd Llc has invested 1.93% in ASGN Incorporated (NYSE:ASGN). Parkside Retail Bank invested in 886 shares or 0.02% of the stock. The Massachusetts-based Eagle Boston Inv Mngmt Inc has invested 2.02% in ASGN Incorporated (NYSE:ASGN). Teacher Retirement Sys Of Texas stated it has 17,342 shares or 0.01% of all its holdings. 5,687 were reported by Intrust Bankshares Na. Moreover, Alliancebernstein L P has 0.01% invested in ASGN Incorporated (NYSE:ASGN) for 135,621 shares. Victory Cap Management reported 0% in ASGN Incorporated (NYSE:ASGN).

Since January 25, 2018, it had 0 buys, and 6 sales for $11.68 million activity. BLAZER RANDOLPH C had sold 10,000 shares worth $787,290. DAMERIS PETER T had sold 18,750 shares worth $1.55M on Monday, May 14. Callaghan Brian J. sold $1.42 million worth of stock or 20,605 shares. Another trade for 2,000 shares valued at $152,472 was sold by KITTRELL MARTY R.

The stock of ASGN Incorporated (ASGN) shows a multiple tops pattern with $88.81 target or 6.00 % above today’s $83.78 share price. The 9 months chart pattern indicates low risk for the $4.38B company. It was reported on May, 21 by Finviz.com. If the $88.81 price target is reached, the company will be worth $262.92M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.34% or $0.28 during the last trading session, reaching $83.78. About 214,234 shares traded. ASGN Incorporated (NYSE:ASGN) has risen 73.23% since May 21, 2017 and is uptrending. It has outperformed by 61.68% the S&P500.

Analysts await ASGN Incorporated (NYSE:ASGN) to report earnings on July, 25. They expect $1.04 earnings per share, up 33.33 % or $0.26 from last year’s $0.78 per share. ASGN’s profit will be $54.40 million for 20.14 P/E if the $1.04 EPS becomes a reality. After $0.83 actual earnings per share reported by ASGN Incorporated for the previous quarter, Wall Street now forecasts 25.30 % EPS growth.

ASGN Incorporated (NYSE:ASGN) Ratings Coverage

Among 6 analysts covering On Assignment (NYSE:ASGN), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. On Assignment has $10100 highest and $71.0 lowest target. $88.17’s average target is 5.24% above currents $83.78 stock price. On Assignment had 13 analyst reports since December 7, 2017 according to SRatingsIntel. The firm has “Buy” rating by BMO Capital Markets given on Wednesday, April 25. The stock has “Buy” rating by SunTrust on Friday, April 6. The rating was maintained by RBC Capital Markets with “Buy” on Monday, January 8. The rating was maintained by Robert W. Baird with “Hold” on Wednesday, January 31. The stock has “Buy” rating by SunTrust on Thursday, December 7. The firm has “Buy” rating by Wells Fargo given on Monday, April 2. SunTrust maintained ASGN Incorporated (NYSE:ASGN) rating on Wednesday, January 31. SunTrust has “Buy” rating and $80.0 target. BMO Capital Markets maintained the shares of ASGN in report on Wednesday, April 18 with “Buy” rating. Wells Fargo maintained ASGN Incorporated (NYSE:ASGN) rating on Thursday, February 1. Wells Fargo has “Outperform” rating and $85 target. Deutsche Bank maintained the stock with “Buy” rating in Thursday, February 15 report.

More important recent ASGN Incorporated (NYSE:ASGN) news were published by: Businesswire.com which released: “ECS is Gold Sponsor of 2018 AWS Public Sector Summit in Washington, DC” on May 17, 2018, also Businesswire.com published article titled: “ASGN to Host Analyst & Investor Day on May 23”, Businesswire.com published: “ASGN Incorporated Reports First Quarter 2018 Results” on April 25, 2018. More interesting news about ASGN Incorporated (NYSE:ASGN) was released by: Globenewswire.com and their article: “Research Report Identifies Carolina Financial, Dicerna Pharmaceuticals, On Assignment, Digimarc, CIRCOR …” with publication date: May 18, 2018.

On Assignment, Inc. provides professionals for contract, contract-to-hire, and direct hire assignments in the United States, Europe, and Canada. The company has market cap of $4.38 billion. The firm operates in two divisions, Apex and Oxford. It has a 28.25 P/E ratio. The Apex segment offers technical, scientific, and digital and creative professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.

ASGN Incorporated (NYSE:ASGN) Institutional Positions Chart

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