Truist Financial Cuts ASGN (NYSE:ASGN) Price Target to $75.00

ASGN (NYSE:ASGN) had its price objective decreased by equities researchers at Truist Financial from $105.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective suggests a potential upside of 26.16% from the stock’s previous close.

Separately, StockNews.com cut shares of ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, ASGN presently has an average rating of “Moderate Buy” and an average target price of $96.40.

ASGN Stock Up 0.9 %

Shares of NYSE ASGN opened at $59.45 on Tuesday. The business has a 50-day simple moving average of $66.66 and a two-hundred day simple moving average of $82.12. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. ASGN has a 52 week low of $55.95 and a 52 week high of $105.67. The company has a market cap of $2.59 billion, a P/E ratio of 15.48 and a beta of 1.20.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. ASGN had a return on equity of 13.22% and a net margin of 4.27%. Research analysts anticipate that ASGN will post 5.15 earnings per share for the current fiscal year.

Institutional Trading of ASGN

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Reinhart Partners LLC. grew its holdings in shares of ASGN by 13.4% in the first quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider’s stock worth $41,971,000 after purchasing an additional 78,794 shares during the last quarter. GAMMA Investing LLC grew its stake in ASGN by 47,970.1% in the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock worth $41,500,000 after acquiring an additional 65,719 shares in the last quarter. Pinebridge Investments L.P. grew its stake in ASGN by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after acquiring an additional 6,576 shares in the last quarter. Argent Capital Management LLC increased its position in shares of ASGN by 31.6% during the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after acquiring an additional 3,339 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of ASGN in the first quarter valued at approximately $396,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.