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

Shares of ASGN Incorporated (NYSE:ASGN) have received a consensus recommendation of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $71.33.

A number of equities research analysts have issued reports on ASGN shares. UBS Group reduced their target price on shares of ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a report on Thursday, April 24th. Truist Financial reduced their target price on shares of ASGN from $105.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $55.00 price objective (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Finally, Wells Fargo & Company started coverage on shares of ASGN in a research note on Tuesday, June 3rd. They set an “equal weight” rating and a $56.00 target price for the company.

ASGN Price Performance

ASGN stock opened at $53.25 on Wednesday. The firm has a market cap of $2.34 billion, a PE ratio of 13.87 and a beta of 1.00. ASGN has a 52-week low of $47.64 and a 52-week high of $105.67. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $55.75 and its two-hundred day moving average is $71.74.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share (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 13.22% and a net margin of 4.27%. ASGN’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. On average, research analysts expect that ASGN will post 5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Entropy Technologies LP purchased a new position in shares of ASGN in the 4th quarter valued at $299,000. Cibc World Markets Corp purchased a new position in shares of ASGN in the 4th quarter valued at $337,000. Pinebridge Investments L.P. grew its position in shares of ASGN by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock valued at $1,832,000 after buying an additional 6,576 shares during the last quarter. Reinhart Partners LLC. grew its position in shares of ASGN by 13.4% in the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider’s stock valued at $41,971,000 after buying an additional 78,794 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.