UBS Group Issues Pessimistic Forecast for ASGN (NYSE:ASGN) Stock Price

ASGN (NYSE:ASGN - Get Free Report) had its price target cut by stock analysts at UBS Group from $49.00 to $47.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "sell" rating on the business services provider's stock. UBS Group's price target suggests a potential downside of 13.62% from the stock's current price.

ASGN has been the subject of a number of other reports. Truist Financial decreased their target price on 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 reissued a "hold" rating and issued a $55.00 target price (down from $115.00) on shares of ASGN in a research note on Friday, April 25th. Jefferies Financial Group reissued an "underperform" rating and issued a $42.00 target price (down from $53.00) on shares of ASGN in a research note on Monday, July 7th. Finally, Wells Fargo & Company cut their price objective on shares of ASGN from $56.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.67.

ASGN Price Performance

Shares of NYSE:ASGN traded down $0.33 during trading on Thursday, reaching $54.41. The stock had a trading volume of 524,233 shares, compared to its average volume of 527,928. ASGN has a 52 week low of $46.63 and a 52 week high of $101.66. The business's 50-day moving average price is $51.64 and its 200 day moving average price is $62.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market capitalization of $2.39 billion, a PE ratio of 17.22 and a beta of 0.97.

ASGN (NYSE:ASGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $994.64 million. ASGN had a net margin of 3.50% and a return on equity of 11.90%. The firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that ASGN will post 5.15 earnings per share for the current year.

Institutional Trading of ASGN

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings 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 buying an additional 908 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of ASGN during the first quarter valued at about $396,000. Entropy Technologies LP grew its holdings in shares of ASGN by 105.5% during the first quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider's stock valued at $465,000 after buying an additional 3,788 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of ASGN by 3.1% during 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 buying an additional 485 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of ASGN by 42.7% during 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 during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.