ASGN (NYSE:ASGN) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of ASGN (NYSE:ASGN) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $56.00 target price on the business services provider’s stock.

A number of other analysts have also issued reports on the stock. Truist Financial decreased their target price on shares of ASGN from $105.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group restated a “hold” rating and set a $55.00 price objective (down previously from $115.00) on shares of ASGN in a report on Friday, April 25th. Finally, UBS Group dropped their target price on ASGN from $56.00 to $54.00 and set a “sell” rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, ASGN has a consensus rating of “Hold” and an average price target of $71.33.

ASGN Stock Performance

ASGN stock opened at $52.83 on Tuesday. ASGN has a fifty-two week low of $47.64 and a fifty-two week high of $105.67. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 13.76 and a beta of 1.08. The stock has a fifty day moving average of $56.36 and a two-hundred day moving average of $72.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.03). ASGN had a net margin of 4.27% and a return on equity of 13.22%. The company had revenue of $968.30 million for the quarter, compared to analyst estimates of $971.00 million. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. On average, analysts anticipate that ASGN will post 5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Entropy Technologies LP acquired a new stake in shares of ASGN in the fourth quarter worth $299,000. Cibc World Markets Corp purchased a new stake in ASGN during the 4th quarter worth $337,000. 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 valued at $1,832,000 after purchasing an additional 6,576 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in ASGN by 3.1% in the 1st quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider’s stock valued at $1,013,000 after purchasing an additional 485 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 during the period. Hedge funds and other institutional investors 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.