ASGN's (ASGN) Hold Rating Reaffirmed at Canaccord Genuity Group

ASGN (NYSE:ASGN - Get Free Report)'s stock had its "hold" rating reissued by Canaccord Genuity Group in a report issued on Friday, MarketBeat Ratings reports. They currently have a $55.00 target price on the business services provider's stock, down from their prior target price of $115.00. Canaccord Genuity Group's price target suggests a potential upside of 9.41% from the stock's current price.

ASGN has been the subject of a number of other research reports. Truist Financial cut their price objective on shares of ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. StockNews.com lowered shares of ASGN from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, UBS Group dropped their price target on shares of ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $74.40.

ASGN Stock Down 1.2 %

NYSE:ASGN traded down $0.59 during trading hours on Friday, reaching $50.27. The company's stock had a trading volume of 181,993 shares, compared to its average volume of 391,984. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 13.09 and a beta of 1.20. ASGN has a one year low of $46.41 and a one year high of $105.67. The business's 50-day moving average is $62.94 and its 200-day moving average is $79.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25.

ASGN (NYSE:ASGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share (EPS) 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 business had revenue of $968.30 million during the quarter, compared to the consensus estimate of $971.00 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The company's revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts predict that ASGN will post 5.15 EPS for the current year.

Institutional Trading of ASGN

Hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp increased its holdings in shares of ASGN by 48.1% during the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock worth $36,000 after buying an additional 139 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of ASGN by 662.8% during the first quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock valued at $66,000 after purchasing an additional 908 shares during the last quarter. Cim Investment Management Inc. acquired a new stake in shares of ASGN in the third quarter valued at approximately $205,000. Entropy Technologies LP acquired a new position in ASGN during the 4th quarter worth $299,000. Finally, Cibc World Markets Corp bought a new position in ASGN in the 4th 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.