ASGN (NYSE:ASGN) Price Target Lowered to $47.00 at UBS Group

ASGN (NYSE:ASGN - Get Free Report) had its target price dropped by investment analysts at UBS Group from $49.00 to $47.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the business services provider's stock. UBS Group's target price would suggest a potential downside of 16.25% from the stock's current price.

ASGN has been the topic of several other research reports. Canaccord Genuity Group reiterated a "hold" rating and set a $55.00 price target (down previously from $115.00) on shares of ASGN in a research note on Friday, April 25th. Wells Fargo & Company decreased their price objective on ASGN from $56.00 to $51.00 and set an "equal weight" rating for the company in a report on Thursday. Truist Financial decreased their price objective on ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a $42.00 price objective (down previously from $53.00) on shares of ASGN in a report on Monday, July 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $61.67.

ASGN Stock Up 12.2%

Shares of ASGN traded up $6.10 during trading hours on Thursday, hitting $56.12. The company had a trading volume of 996,752 shares, compared to its average volume of 517,386. The company has a market capitalization of $2.46 billion, a PE ratio of 15.99 and a beta of 0.97. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.72. ASGN has a one year low of $46.63 and a one year high of $101.66. The company's fifty day moving average price is $51.68 and its two-hundred day moving average price is $63.57.

ASGN (NYSE:ASGN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.09. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $994.64 million. ASGN had a return on equity of 12.55% and a net margin of 3.93%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. As a group, equities analysts forecast that ASGN will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of hedge funds have recently made changes to their positions in ASGN. SG Americas Securities LLC purchased a new stake in shares of ASGN in the first quarter valued at approximately $396,000. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 908 shares in the last quarter. Reinhart Partners LLC. grew its position in shares of ASGN by 13.4% in the first 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 in the last quarter. Pinebridge Investments L.P. grew its position 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 purchasing an additional 6,576 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position 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 worth $1,013,000 after acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 95.36% of the company's stock.

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.

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