BMO Capital analyst Jeffrey Silber has maintained their bullish stance on ASGN stock, giving a Buy rating yesterday.
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Jeffrey Silber’s rating is based on ASGN’s robust performance in consulting, which showed accelerated growth and a positive turn in bookings, despite weaknesses in other segments like federal government revenues and IT spending. The company’s adjusted EPS surpassed expectations, driven primarily by strong margins, indicating operational efficiency.
Additionally, the strategic acquisition of TopBloc is expected to enhance ASGN’s consulting capabilities, particularly in the Workday space, and presents opportunities for cross-selling in the federal sector. Although the guidance for the upcoming quarter is lighter than anticipated, the long-term prospects appear promising due to ASGN’s leadership in IT staffing and federal contracting and potential for multiple expansion as it shifts more towards consulting.
Silber covers the Industrials sector, focusing on stocks such as ManpowerGroup, Robert Half, and First Advantage. According to TipRanks, Silber has an average return of 11.0% and a 63.21% success rate on recommended stocks.
In another report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $105.00 price target.