Wells Fargo & Company Issues Positive Forecast for ASGN (NYSE:EFOR) Stock Price

Key Points

• Wells Fargo raised ASGN’s price target from $26 to $38 while maintaining an “equal weight” rating, implying roughly 1.28% upside from the reported share price. Other analysts also lifted targets, but the consensus rating remains “Reduce” with an average target of $33.50.
• ASGN shares fell 3.1% to $37.52 in mid-day trading. The stock has traded between $16.90 and $54.94 over the past year.
• ASGN exceeded quarterly earnings expectations, reporting adjusted EPS of $1.11 versus the $1.02 consensus and revenue of $1.03 billion, up 2% year over year. Institutional investors and hedge funds own approximately 95.36% of the company.

ASGN (NYSE:EFOR - Get Free Report) had its target price lifted by Wells Fargo & Company from $26.00 to $38.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 1.28% from the company's current price.

A number of other brokerages have also commented on EFOR. 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 report on Friday, October 9th. Truist Financial lifted their target price on ASGN from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, October 9th. Weiss Ratings raised shares of ASGN from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, September 28th. 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 investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, ASGN presently has an average rating of "Reduce" and an average target price of $33.50.

ASGN Stock Down 3.1%

Shares of NYSE EFOR traded down $1.22 during mid-day trading on Thursday, reaching $37.52. 103,942 shares of the company were exchanged, compared to its average volume of 952,695. The company has a market capitalization of $1.54 billion, a PE ratio of 19.34 and a beta of 0.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.13 and a quick ratio of 2.13. The firm's 50-day moving average is $34.57. ASGN has a twelve month low of $16.90 and a twelve month high of $54.94.

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

Hedge Funds Weigh In On ASGN

A hedge fund recently bought a new stake in ASGN stock. Crescent Grove Advisors LLC acquired a new stake in shares of ASGN Incorporated (NYSE:EFOR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,400 shares of the company's stock, valued at approximately $408,000. Institutional investors and hedge funds 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.

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