ASGN (NYSE:EFOR) Stock Rating Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ASGN from “hold” to “buy,” but broader analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $33.83.
• ASGN shares rose 3.4% and opened at $38.25, while the company reported quarterly earnings of $1.11 per share, beating estimates of $1.02. Revenue reached $1.03 billion, up 2% year over year.
• Institutional ownership remains high at 95.36%, with Crescent Grove Advisors recently purchasing approximately $408,000 worth of ASGN shares.

ASGN (NYSE:EFOR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. Truist Financial increased their target price on ASGN from $36.00 to $45.00 and gave the company a "buy" rating in a report on Friday, October 9th. BMO Capital Markets upped their price objective on ASGN from $30.00 to $41.00 and gave the company a "market perform" rating in a research report on Friday, October 9th. Wells Fargo & Company increased their price objective on ASGN from $26.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday. UBS Group lifted their price objective on ASGN from $17.00 to $19.00 and gave the stock a "sell" rating in a research report on Thursday. Finally, Zacks Research downgraded shares of ASGN from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ASGN currently has an average rating of "Reduce" and an average price target of $33.83.

ASGN Trading Up 3.4%

EFOR stock opened at $38.25 on Friday. The firm's 50 day moving average is $34.79. The firm has a market cap of $1.57 billion, a P/E ratio of 9.59 and a beta of 0.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.13 and a current ratio of 2.13. ASGN has a 12-month low of $16.90 and a 12-month high of $54.94.

ASGN (NYSE:EFOR - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.09. ASGN had a return on equity of 8.87% and a net margin of 1.71%. The business had revenue of $1.03 billion for the quarter. The business's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that ASGN will post 3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASGN

A hedge fund recently bought a new stake in ASGN stock. Crescent Grove Advisors LLC bought a new position in shares of ASGN Incorporated (NYSE:EFOR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,400 shares of the company's stock, valued at approximately $408,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

ASGN Company Profile

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.

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