ASGN Incorporated (NYSE:ASGN) Given Average Rating of “Hold” by Analysts

Shares of ASGN Incorporated (NYSE:ASGN) have received an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $74.40.

Several analysts have commented on the stock. UBS Group decreased their price target on shares of ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a research note on Thursday, April 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $55.00 target price (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Finally, Truist Financial cut their price target on ASGN from $105.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 15th.

ASGN Stock Performance

NYSE:ASGN opened at $55.68 on Friday. The stock has a 50-day moving average price of $60.58 and a 200 day moving average price of $77.32. The stock has a market capitalization of $2.44 billion, a P/E ratio of 14.50 and a beta of 1.08. ASGN has a 12-month low of $47.64 and a 12-month high of $105.67. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN) last announced its quarterly earnings data 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). ASGN had a net margin of 4.27% and a return on equity of 13.22%. The company had revenue of $968.30 million for the quarter, compared to analysts’ expectations of $971.00 million. During the same period last year, the business earned $1.16 earnings per share. The company’s quarterly 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 fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp lifted its stake in shares of ASGN by 48.1% in the 4th 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 last quarter. GAMMA Investing LLC raised its holdings in 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 buying an additional 908 shares during the period. Entropy Technologies LP bought a new stake in ASGN in the fourth quarter worth $299,000. Cibc World Markets Corp purchased a new position in ASGN during the fourth quarter worth $337,000. Finally, SG Americas Securities LLC bought a new position in ASGN during the first quarter valued at $396,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.