ASGN (NYSE:ASGN) Given New $51.00 Price Target at Wells Fargo & Company

ASGN (NYSE:ASGN - Free Report) had its price objective lowered by Wells Fargo & Company from $56.00 to $51.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the business services provider's stock.

ASGN has been the topic of several other research reports. Canaccord Genuity Group reaffirmed a "hold" rating and set a $55.00 price target (down previously from $115.00) on shares of ASGN in a research report on Friday, April 25th. UBS Group lowered their target price on ASGN from $56.00 to $54.00 and set a "sell" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reiterated 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, Truist Financial lowered their target price on ASGN from $105.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $61.67.

ASGN Trading Down 0.6%

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

ASGN (NYSE:ASGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.09. ASGN had a return on equity of 11.90% and a net margin of 3.50%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $994.64 million. During the same quarter last year, the company earned $1.36 EPS. ASGN's revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts expect that ASGN will post 5.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ASGN

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in ASGN by 662.8% during the first quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock worth $66,000 after purchasing an additional 908 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of ASGN in the first quarter worth $396,000. Entropy Technologies LP raised its holdings in shares of ASGN by 105.5% in the first quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider's stock worth $465,000 after acquiring an additional 3,788 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of 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 last quarter. Finally, Pinebridge Investments L.P. raised its holdings 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 worth $1,832,000 after acquiring an additional 6,576 shares during the last quarter. 95.36% of the stock is 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.