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

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

Analysts Set New Price Targets

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

ASGN Stock Up 8.8%

The business’s 50 day simple moving average is $46.42 and its 200 day simple moving average is $50.18. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.86 billion, a PE ratio of 14.68 and a beta of 0.96.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Entropy Technologies LP increased 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 valued at $465,000 after acquiring an additional 3,788 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of ASGN by 3.1% during the 1st quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider’s stock worth $1,013,000 after purchasing an additional 485 shares during the period. Reinhart Partners LLC. grew its holdings in 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 last quarter. Kennedy Capital Management LLC grew its holdings in ASGN by 1.7% during the 2nd quarter. Kennedy Capital Management LLC now owns 35,243 shares of the business services provider’s stock valued at $1,760,000 after purchasing an additional 594 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in ASGN in the 3rd quarter worth about $4,065,000. 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.