ASGN’s (ASGN) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of ASGN (NYSE:ASGN) in a research report released on Friday, MarketBeat.com reports. They currently have a $55.00 price target on the business services provider’s stock, down from their prior price target of $115.00.

Other equities research analysts have also recently issued reports about the company. UBS Group reduced their target price on ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a report on Thursday. StockNews.com cut ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Truist Financial cut their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.40.

ASGN Stock Performance

ASGN opened at $51.35 on Friday. The company has a 50 day simple moving average of $63.75 and a two-hundred day simple moving average of $80.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $2.26 billion, a P/E ratio of 13.37 and a beta of 1.20. ASGN has a 1-year low of $47.64 and a 1-year high of $105.67.

ASGN (NYSE:ASGN) last posted 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). The business had revenue of $968.30 million during the quarter, compared to analysts’ expectations of $971.00 million. ASGN had a return on equity of 13.22% and a net margin of 4.27%. Equities analysts forecast that ASGN will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASGN

Several institutional investors have recently bought and sold shares of the business. Reinhart Partners LLC. boosted its position in ASGN by 13.4% during the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider’s stock valued at $41,971,000 after acquiring an additional 78,794 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of ASGN by 47,970.1% during the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock worth $41,500,000 after purchasing an additional 65,719 shares during the last quarter. Pinebridge Investments L.P. boosted its position in ASGN by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock valued at $1,832,000 after purchasing an additional 6,576 shares in the last quarter. SG Americas Securities LLC purchased a new position in ASGN in the first quarter valued at about $396,000. Finally, Cibc World Markets Corp bought a new position in ASGN in the fourth quarter worth about $337,000. 95.36% of the stock is 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.