ASGN Incorporated (NYSE:ASGN) Receives $71.33 Consensus PT from Analysts

ASGN Incorporated (NYSE:ASGN - Get Free Report) has earned an average recommendation of "Hold" from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $71.33.

Several research analysts have commented on the stock. UBS Group lowered their price target on shares of ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company began coverage on shares of ASGN in a research note on Tuesday. They set an "equal weight" rating and a $56.00 target price for the company. Canaccord Genuity Group reissued a "hold" rating and issued a $55.00 target price (down previously from $115.00) on shares of ASGN in a 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 on the stock in a research note on Tuesday, April 15th.

ASGN Stock Up 1.3%

ASGN traded up $0.67 on Wednesday, hitting $53.25. 475,096 shares of the company were exchanged, compared to its average volume of 414,645. ASGN has a twelve month low of $47.64 and a twelve month high of $105.67. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 13.87 and a beta of 1.00. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $55.75 and a two-hundred day moving average price of $71.83.

ASGN (NYSE:ASGN - Get Free Report) 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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $971.00 million. During the same quarter in the previous year, the business posted $1.16 EPS. The business's quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that ASGN will post 5.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Entropy Technologies LP purchased a new stake in ASGN in the fourth quarter valued at $299,000. Cibc World Markets Corp acquired a new stake in shares of ASGN during the fourth quarter worth about $337,000. Pinebridge Investments L.P. lifted its holdings in shares of ASGN by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider's stock valued at $1,832,000 after purchasing an additional 6,576 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in shares of ASGN by 13.4% in the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider's stock valued at $41,971,000 after purchasing an additional 78,794 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of ASGN by 47,970.1% in the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider's stock valued at $41,500,000 after purchasing an additional 65,719 shares during the period. 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.