ASGN (NYSE:EFOR) Stock Price Target Raised at UBS Group

Key Points

• UBS Group raised ASGN’s price target from $17 to $19 but maintained a “sell” rating, implying approximately 48% downside from the stock’s $36.70 price.
• Analyst sentiment remains cautious: ASGN has a consensus “Reduce” rating and an average price target of $33.83, despite targets ranging from $19 to $45.
• ASGN exceeded quarterly earnings expectations, reporting $1.11 in EPS versus the $1.02 consensus estimate, while revenue rose 2% year over year to $1.03 billion.

ASGN (NYSE:EFOR - Get Free Report) had its target price lifted by research analysts at UBS Group from $17.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a "sell" rating on the stock. UBS Group's price target suggests a potential downside of 48.23% from the company's current price.

A number of other research analysts have also weighed in on the company. Weiss Ratings raised ASGN from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, September 28th. Wells Fargo & Company upped their target price on shares of ASGN from $26.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday. Zacks Research cut shares of ASGN from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. BMO Capital Markets boosted their price target on shares of ASGN from $30.00 to $41.00 and gave the company a "market perform" rating in a research report on Friday, October 9th. Finally, Truist Financial boosted their target price on ASGN from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $33.83.

ASGN Price Performance

Shares of ASGN stock traded down $2.04 on Thursday, reaching $36.70. 591,735 shares of the company traded hands, compared to its average volume of 954,453. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 18.92 and a beta of 0.48. The business has a 50 day moving average of $34.57. ASGN has a 52 week low of $16.90 and a 52 week high of $54.94.

ASGN (NYSE:EFOR - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.09. The business had revenue of $1.03 billion during the quarter. ASGN had a return on equity of 9.54% and a net margin of 2.09%. ASGN's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that ASGN will post 3.60 earnings per share for the current year.

Institutional Trading of ASGN

A hedge fund recently bought a new position in ASGN stock. Crescent Grove Advisors LLC acquired a new stake in ASGN Incorporated (NYSE:EFOR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,400 shares of the company's stock, valued at approximately $408,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

About ASGN

ASGN Incorporated is a provider of information technology and professional services to commercial and government organizations. The company helps clients address digital transformation, cloud modernization, cybersecurity, data and analytics, application development, and other technology needs.

ASGN delivers these services through consulting, project-based solutions, and professional staffing. Its government segment provides technology, engineering, and mission-support services to U.S. federal agencies, while its commercial segment serves businesses across industries including healthcare, financial services, communications, and manufacturing.

The company traces its origins to 1985, when it was established as On Assignment, and expanded its government-services capabilities through the acquisition of ECS Federal in 2018.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.