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

Key Points

• Wells Fargo cut ASGN’s price target from $33 to $26 while maintaining an “equal weight” rating, implying roughly 2.55% downside from the cited share price. The broader analyst consensus is “Reduce,” with a $28.67 target.
• ASGN’s latest quarterly results exceeded expectations, with EPS of $0.91 versus $0.82 forecast and revenue of $1.01 billion versus $983 million expected. However, revenue fell 1.3% year over year and EPS declined from $1.17.
• Shares rose 14% to $26.68, while institutional investors and hedge funds held 95.36% of the stock. Third-quarter EPS guidance of $0.92–$1.10 was broadly in line with the $1.00 consensus midpoint.

ASGN (NYSE:EFOR - Get Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $33.00 to $26.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 2.55% from the company's current price.

Several other equities research analysts have also commented on the stock. BMO Capital Markets lowered shares of ASGN from an "outperform" rating to a "market perform" rating and set a $33.00 price target on the stock. in a research note on Thursday, April 23rd. Weiss Ratings lowered ASGN from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Truist Financial upgraded ASGN from a "hold" rating to a "buy" rating and lifted their target price for the stock from $33.00 to $36.00 in a research report on Wednesday, July 22nd. UBS Group reduced their target price on ASGN from $35.00 to $17.00 and set a "sell" rating for the company in a report on Friday, May 22nd. Finally, Zacks Research raised ASGN from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ASGN has an average rating of "Reduce" and a consensus price target of $28.67.

ASGN Stock Up 14.0%

ASGN stock traded up $3.27 during mid-day trading on Thursday, hitting $26.68. The company had a trading volume of 460,665 shares, compared to its average volume of 1,044,034. The stock has a market cap of $1.10 billion, a PE ratio of 11.81 and a beta of 0.52. ASGN has a 1 year low of $16.90 and a 1 year high of $54.94. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10. The business has a fifty day moving average of $19.52.

ASGN (NYSE:EFOR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. ASGN had a net margin of 2.46% and a return on equity of 10.30%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $983.00 million. During the same quarter in the previous year, the firm earned $1.17 EPS. The company's revenue was down 1.3% compared to the same quarter last year. ASGN has set its Q3 2026 guidance at 0.920-1.100 EPS. Equities analysts anticipate that ASGN will post 3.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in ASGN during the third quarter worth about $8,030,000. Reinhart Partners LLC. boosted its holdings in ASGN by 12.5% in the 4th quarter. Reinhart Partners LLC. now owns 1,206,940 shares of the company's stock valued at $58,139,000 after purchasing an additional 134,513 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in ASGN during the 4th quarter worth approximately $245,000. GAMMA Investing LLC increased its position in ASGN by 97.8% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the company's stock worth $26,000 after purchasing an additional 268 shares during the period. Finally, Torren Management LLC acquired a new position in ASGN during the 4th quarter worth approximately $34,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ASGN

Here are the key news stories impacting ASGN this week:

• Positive Sentiment: Quarterly earnings and revenue beat estimates: ASGN reported adjusted earnings of $0.91 per share, above the $0.82 consensus estimate, while revenue reached $1.01 billion versus expectations of approximately $983 million. ASGN quarterly earnings report
• Positive Sentiment: Cash generation and profitability were solid: The company reported $14.2 million in net income, $96.7 million in adjusted EBITDA, $52.2 million in operating cash flow and $46.3 million in free cash flow. ASGN also repurchased approximately 0.4 million shares, which may support per-share value. ASGN second-quarter results
• Neutral Sentiment: Third-quarter outlook is broadly in line with expectations: ASGN guided to EPS of $0.92 to $1.10, compared with the $1.00 analyst consensus. The midpoint matches expectations, but the guidance range indicates some uncertainty around near-term performance.
• Negative Sentiment: Year-over-year trends remain soft: Quarterly revenue declined 1.3% from the prior year, while EPS fell from $1.17 to $0.91. The company’s reported net margin was also relatively modest at 2.46%, highlighting continued pressure on profitability.

ASGN Company Profile

ASGN is a provider of professional services that connects skilled talent with organizations seeking technology, digital, creative and engineering expertise. The firm focuses on staffing and workforce solutions, delivering contract and permanent placement services as well as project-based consulting and managed services to support clients’ technical and operational needs.

Its offerings commonly include IT consulting, digital transformation support, application development and maintenance, data and analytics, cybersecurity, cloud services and engineering resources.

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