ASGN (NYSE:ASGN) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of ASGN (NYSE:ASGN) in a research note released on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $102.00 price objective on the business services provider’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com assumed coverage on ASGN in a research report on Thursday, August 17th. They issued a hold rating on the stock. TheStreet downgraded ASGN from a b- rating to a c+ rating in a research report on Thursday, May 25th. William Blair reaffirmed an outperform rating on shares of ASGN in a research report on Wednesday, July 26th. UBS Group began coverage on ASGN in a research report on Wednesday, May 31st. They issued a buy rating and a $80.00 price target on the stock. Finally, Truist Financial decreased their target price on ASGN from $102.00 to $93.00 in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, ASGN presently has an average rating of Hold and a consensus price target of $84.83.

ASGN Trading Up 2.9 %

NYSE ASGN opened at $79.99 on Monday. ASGN has a 1-year low of $63.27 and a 1-year high of $99.69. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.87 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.64. The firm’s fifty day simple moving average is $79.87 and its 200-day simple moving average is $76.40.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, July 26th. The business services provider reported $1.59 EPS for the quarter, topping the consensus estimate of $1.49 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. ASGN had a net margin of 5.17% and a return on equity of 16.41%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 earnings per share. As a group, sell-side analysts anticipate that ASGN will post 5.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASGN

A number of institutional investors have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. boosted its holdings in ASGN by 100.0% during the second quarter. Reinhart Partners LLC. now owns 462,982 shares of the business services provider’s stock valued at $35,015,000 after purchasing an additional 231,479 shares in the last quarter. Reinhart Partners Inc. bought a new position in shares of ASGN in the first quarter valued at approximately $19,138,000. SG Americas Securities LLC raised its stake in shares of ASGN by 311.6% in the first quarter. SG Americas Securities LLC now owns 54,590 shares of the business services provider’s stock valued at $4,513,000 after acquiring an additional 41,327 shares during the last quarter. Amalgamated Bank raised its stake in shares of ASGN by 1.0% in the fourth quarter. Amalgamated Bank now owns 35,101 shares of the business services provider’s stock valued at $2,860,000 after acquiring an additional 345 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of ASGN by 54.6% in the second quarter. State of Tennessee Treasury Department now owns 24,313 shares of the business services provider’s stock valued at $1,839,000 after acquiring an additional 8,588 shares during the last quarter. 94.41% of the stock is owned by institutional investors and hedge funds.

About ASGN

ASGN Incorporated provides information technology services and professional 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.