ASGN Incorporated (NYSE:ASGN) Receives Consensus Recommendation of “Hold” from Analysts

ASGN Incorporated (NYSE:ASGN) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $74.40.

A number of research firms have recently weighed in on ASGN. Canaccord Genuity Group reissued a “hold” rating and issued a $55.00 price target (down previously from $115.00) on shares of ASGN in a research note on Friday, April 25th. Truist Financial decreased their price objective on shares of ASGN from $105.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group decreased their price objective on ASGN from $56.00 to $54.00 and set a “sell” rating for the company in a research report on Thursday, April 24th.

ASGN Price Performance

NYSE:ASGN opened at $55.08 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. ASGN has a one year low of $47.64 and a one year high of $105.67. The company has a fifty day moving average price of $60.21 and a 200 day moving average price of $76.71. The stock has a market cap of $2.42 billion, a P/E ratio of 14.34 and a beta of 1.08.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.03). The business had revenue of $968.30 million during the quarter, compared to the consensus estimate of $971.00 million. ASGN had a net margin of 4.27% and a return on equity of 13.22%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Analysts anticipate that ASGN will post 5.15 earnings per share for the current year.

Institutional Investors Weigh In On ASGN

Hedge funds have recently bought and sold shares of the stock. Reinhart Partners LLC. grew its position 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 valued at $41,971,000 after purchasing an additional 78,794 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $41,500,000 after buying an additional 65,719 shares in the last quarter. Pinebridge Investments L.P. increased its position in ASGN by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after buying an additional 6,576 shares during the period. SG Americas Securities LLC bought a new position in ASGN during the 1st quarter worth $396,000. Finally, Cibc World Markets Corp acquired a new stake in shares of ASGN during the fourth quarter worth $337,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

About ASGN

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.