ASGN (NYSE:ASGN) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of ASGN (NYSE:ASGN - Free Report) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $56.00 price objective on the business services provider's stock.

ASGN has been the subject of a number of other research reports. Truist Financial lowered their target price on shares of ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group reiterated a "hold" rating and set a $55.00 target price (down previously from $115.00) on shares of ASGN in a research note on Friday, April 25th. Finally, UBS Group lowered their target price on shares of ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, ASGN has a consensus rating of "Hold" and an average target price of $71.33.

ASGN Stock Up 1.3%

Shares of ASGN stock traded up $0.67 during trading hours on Tuesday, reaching $53.25. 475,096 shares of the company were exchanged, compared to its average volume of 413,791. ASGN has a 1 year low of $47.64 and a 1 year high of $105.67. The stock's fifty day moving average is $55.75 and its 200 day moving average is $71.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market cap of $2.34 billion, a PE ratio of 13.87 and a beta of 1.08.

ASGN (NYSE:ASGN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.03). ASGN had a return on equity of 13.22% and a net margin of 4.27%. The company had revenue of $968.30 million for the quarter, compared to analysts' expectations of $971.00 million. During the same period in the prior year, the company posted $1.16 EPS. The firm's revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that ASGN will post 5.15 earnings per share for the current year.

Hedge Funds Weigh In On ASGN

Several large investors have recently bought and sold shares of the stock. J.Safra Asset Management Corp boosted its stake in ASGN by 48.1% in the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock valued at $36,000 after acquiring an additional 139 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in ASGN by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider's stock valued at $1,013,000 after acquiring an additional 485 shares in the last quarter. GAMMA Investing LLC boosted its stake in ASGN by 662.8% in the first quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock valued at $66,000 after acquiring an additional 908 shares in the last quarter. Entropy Technologies LP acquired a new position in ASGN in the fourth quarter valued at $299,000. Finally, Cibc World Markets Corp acquired a new position in ASGN in the fourth quarter valued at $337,000. Institutional investors and hedge funds own 95.36% of the company's stock.

ASGN Company Profile

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.