ASGN (NYSE:ASGN) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of ASGN (NYSE:ASGN) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group restated a “hold” rating and issued a $55.00 price target (down from $115.00) on shares of ASGN in a report on Friday, April 25th. Jefferies Financial Group restated an “underperform” rating and issued a $42.00 price target (down from $53.00) on shares of ASGN in a report on Monday, July 7th. Truist Financial lowered their price target on ASGN from $105.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. UBS Group lowered their price target on ASGN from $49.00 to $47.00 and set a “sell” rating for the company in a report on Thursday, July 24th. Finally, Wells Fargo & Company lowered their price target on ASGN from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.67.

ASGN Trading Down 1.6%

NYSE:ASGN opened at $49.42 on Friday. ASGN has a 1-year low of $46.63 and a 1-year high of $101.66. The business’s 50-day moving average price is $51.02 and its two-hundred day moving average price is $60.15. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 15.64 and a beta of 0.98.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, July 23rd. The business services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.09. ASGN had a return on equity of 11.90% and a net margin of 3.50%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $994.64 million. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that ASGN will post 5.15 earnings per share for the current year.

Institutional Trading of ASGN

Several institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. raised 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 acquiring an additional 6,576 shares in the last quarter. GAMMA Investing LLC raised its holdings in ASGN by 47,970.1% in the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock valued at $41,500,000 after acquiring an additional 65,719 shares in the last quarter. Reinhart Partners LLC. raised its holdings in ASGN by 13.4% in the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider’s stock valued at $41,971,000 after acquiring an additional 78,794 shares in the last quarter. SG Americas Securities LLC acquired a new position in ASGN in the 1st quarter valued at $396,000. Finally, Entropy Technologies LP raised its holdings in ASGN by 105.5% in the 1st quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider’s stock valued at $465,000 after acquiring an additional 3,788 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.