ASGN Incorporated (NYSE:ASGN) Given Consensus Recommendation of “Hold” by Analysts

Shares of ASGN Incorporated (NYSE:ASGN) have earned an average rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $74.40.

A number of equities analysts have issued reports on the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $55.00 price objective (down previously from $115.00) on shares of ASGN in a report on Friday, April 25th. Truist Financial lowered their price target on ASGN from $105.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. 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 report on Thursday, April 24th.

ASGN Stock Down 1.3 %

Shares of ASGN stock opened at $55.68 on Friday. The company’s 50 day moving average price is $60.58 and its 200-day moving average price is $77.32. ASGN has a 52-week low of $47.64 and a 52-week high of $105.67. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25.

ASGN (NYSE:ASGN) last announced its quarterly earnings results 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). ASGN had a return on equity of 13.22% and a net margin of 4.27%. The business had revenue of $968.30 million during the quarter, compared to analysts’ expectations of $971.00 million. During the same period in the previous year, the business earned $1.16 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that ASGN will post 5.15 EPS for the current year.

Institutional Investors Weigh In On ASGN

Hedge funds and other institutional investors have recently modified their holdings of the stock. J.Safra Asset Management Corp grew its holdings in ASGN by 48.1% during 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 period. GAMMA Investing LLC grew its stake 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 valued at $66,000 after acquiring an additional 908 shares during the period. Entropy Technologies LP purchased a new stake in ASGN in the 4th quarter worth approximately $299,000. Cibc World Markets Corp bought a new stake in ASGN during the 4th quarter worth approximately $337,000. Finally, SG Americas Securities LLC bought a new position in shares of ASGN in the first quarter worth approximately $396,000. 95.36% of the stock is currently 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.