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

ASGN Incorporated (NYSE:ASGN) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $71.33.

ASGN has been the topic of several recent analyst reports. Truist Financial lowered their price target on ASGN from $105.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group restated a “hold” rating and set a $55.00 target price (down from $115.00) on shares of ASGN in a report on Friday, April 25th. Wells Fargo & Company initiated coverage on shares of ASGN in a research note on Tuesday, June 3rd. They issued an “equal weight” rating and a $56.00 price target for the company. Finally, UBS Group decreased their price objective on shares of ASGN from $56.00 to $54.00 and set a “sell” rating for the company in a research report on Thursday, April 24th.

ASGN Stock Performance

Shares of ASGN opened at $52.80 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 15.04 and a beta of 0.97. ASGN has a 12 month low of $47.64 and a 12 month high of $105.67. The firm has a fifty day simple moving average of $52.78 and a 200 day simple moving average of $66.91. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.72.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.03). The business had revenue of $968.30 million for the quarter, compared to analyst estimates of $971.00 million. ASGN had a return on equity of 12.55% and a net margin of 3.93%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. Research analysts forecast that ASGN will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

Hedge funds have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp increased its holdings in shares of ASGN by 48.1% in the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ASGN by 662.8% during the 1st quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider’s stock worth $66,000 after buying an additional 908 shares during the period. Cibc World Markets Corp acquired a new position in ASGN in the 4th quarter valued at about $337,000. SG Americas Securities LLC bought a new position in ASGN in the 1st quarter valued at about $396,000. Finally, Entropy Technologies LP lifted its position in ASGN by 105.5% during the first quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider’s stock worth $465,000 after acquiring an additional 3,788 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.