ASGN (NYSE:ASGN) Trading 7.3% Higher – Here’s Why

ASGN Incorporated (NYSE:ASGN)’s stock price traded up 7.3% during trading on Friday . The company traded as high as $42.76 and last traded at $42.9410. 150,540 shares were traded during mid-day trading, a decline of 73% from the average session volume of 551,514 shares. The stock had previously closed at $40.01.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ASGN shares. Wells Fargo & Company decreased their target price on shares of ASGN from $51.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday. Wall Street Zen lowered ASGN from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Truist Financial set a $50.00 price objective on ASGN in a research report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of ASGN in a research note on Wednesday, October 8th. Finally, UBS Group reduced their price target on shares of ASGN from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, ASGN presently has an average rating of “Reduce” and an average target price of $55.50.

ASGN Trading Up 8.8%

The company has a market capitalization of $1.86 billion, a P/E ratio of 14.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a fifty day moving average of $46.42 and a 200 day moving average of $50.18.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. ASGN had a return on equity of 11.42% and a net margin of 3.28%.The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. ASGN has set its Q4 2025 guidance at 1.120-1.200 EPS. As a group, equities research analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of hedge funds have recently modified their holdings of the company. Reinhart Partners LLC. raised its position in shares of ASGN by 53.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,019,406 shares of the business services provider’s stock valued at $50,900,000 after purchasing an additional 353,419 shares during the period. Russell Investments Group Ltd. boosted its holdings in ASGN by 3.1% in the 1st quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider’s stock worth $1,013,000 after buying an additional 485 shares during the period. Entropy Technologies LP increased its stake in ASGN by 105.5% in the 1st quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider’s stock worth $465,000 after buying an additional 3,788 shares in the last quarter. SG Americas Securities LLC increased its stake in ASGN by 1,376.9% in the 3rd quarter. SG Americas Securities LLC now owns 73,224 shares of the business services provider’s stock worth $3,467,000 after buying an additional 68,266 shares in the last quarter. Finally, SummerHaven Investment Management LLC bought a new stake in ASGN during the third quarter valued at about $797,000. 95.36% of the stock is currently owned by 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.