Wells Fargo & Company Has Lowered Expectations for ASGN (NYSE:ASGN) Stock Price

ASGN (NYSE:ASGN - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $56.00 to $51.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the business services provider's stock. Wells Fargo & Company's target price would indicate a potential downside of 9.19% from the company's current price.

A number of other brokerages have also weighed in on ASGN. Truist Financial decreased their price target on shares of ASGN from $105.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. UBS Group decreased their price objective on shares of ASGN from $56.00 to $54.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Canaccord Genuity Group reiterated a "hold" rating and issued a $55.00 price target (down previously from $115.00) on shares of ASGN in a report on Friday, April 25th. Finally, Jefferies Financial Group reissued an "underperform" rating and set a $42.00 price target (down previously from $53.00) on shares of ASGN in a research report on Monday, July 7th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.83.

ASGN Stock Up 12.3%

Shares of ASGN stock traded up $6.14 on Thursday, hitting $56.16. The company had a trading volume of 515,409 shares, compared to its average volume of 513,776. The stock has a 50 day moving average of $51.68 and a 200-day moving average of $63.57. 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 has a 1 year low of $46.63 and a 1 year high of $101.66. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 15.98 and a beta of 0.97.

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

Institutional Investors Weigh In On ASGN

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in ASGN by 662.8% during the 1st quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock worth $66,000 after acquiring an additional 908 shares during the last quarter. SG Americas Securities LLC bought a new stake in ASGN during the 1st quarter worth approximately $396,000. Entropy Technologies LP lifted its position 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 purchasing an additional 3,788 shares in the last quarter. Russell Investments Group Ltd. grew 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 valued at $1,013,000 after acquiring an additional 485 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in ASGN by 42.7% in the 4th 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 currently owned by institutional investors.

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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