ASGN (NYSE:ASGN) Earns "Underperform" Rating from Jefferies Financial Group

ASGN (NYSE:ASGN - Get Free Report)'s stock had its "underperform" rating reissued by investment analysts at Jefferies Financial Group in a research note issued on Monday,Benzinga reports. They presently have a $42.00 price target on the business services provider's stock, down from their previous price target of $53.00. Jefferies Financial Group's price objective points to a potential downside of 20.45% from the stock's current price.

ASGN has been the subject of several other research reports. Truist Financial dropped their price objective 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. Wells Fargo & Company started coverage on ASGN in a research note on Tuesday, June 3rd. They issued an "equal weight" rating and a $56.00 price target for the company. Canaccord Genuity Group reissued a "hold" rating and set a $55.00 price objective (down previously from $115.00) on shares of ASGN in a report on Friday, April 25th. Finally, UBS Group reduced their price objective on ASGN from $56.00 to $54.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.67.

ASGN Stock Performance

NYSE:ASGN opened at $52.80 on Monday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 15.04 and a beta of 0.97. The stock has a fifty day moving average price of $52.81 and a 200-day moving average price of $66.43. ASGN has a fifty-two week low of $47.64 and a fifty-two week high of $105.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.37 and a current ratio of 2.37.

ASGN (NYSE:ASGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.03). ASGN had a return on equity of 12.55% and a net margin of 3.93%. The business had revenue of $968.30 million for the quarter, compared to analyst estimates of $971.00 million. During the same period last year, the firm posted $1.16 EPS. ASGN's quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that ASGN will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of ASGN in the 1st quarter valued at about $396,000. Cibc World Markets Corp bought a new position in ASGN in the fourth quarter worth approximately $337,000. Reinhart Partners LLC. increased its holdings in shares of ASGN by 13.4% during the first quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider's stock valued at $41,971,000 after acquiring an additional 78,794 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of ASGN by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider's stock valued at $1,832,000 after buying an additional 6,576 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in 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 acquiring an additional 65,719 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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