ASGN Incorporated (NYSE:ASGN) Receives Average Rating of “Reduce” from Analysts

ASGN Incorporated (NYSE:ASGN) has received a consensus rating of “Reduce” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $49.6667.

ASGN has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on ASGN from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of ASGN in a research report on Wednesday, October 8th. Truist Financial lowered their target price on shares of ASGN from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. UBS Group cut their price target on shares of ASGN from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, October 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $57.00 price target on shares of ASGN in a report on Wednesday, December 3rd.

ASGN Stock Performance

NYSE ASGN opened at $51.00 on Thursday. The company’s 50 day simple moving average is $47.07 and its two-hundred day simple moving average is $48.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.99 and a quick ratio of 1.99. ASGN has a 1 year low of $39.25 and a 1 year high of $95.29. The stock has a market capitalization of $2.18 billion, a PE ratio of 17.17 and a beta of 0.86.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. ASGN had a net margin of 3.28% and a return on equity of 11.42%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts predict that ASGN will post 5.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASGN

A number of large investors have recently added to or reduced their stakes in ASGN. Reinhart Partners LLC. boosted its holdings in shares of ASGN by 53.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,019,406 shares of the business services provider’s stock worth $50,900,000 after purchasing an additional 353,419 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in ASGN in the 3rd quarter worth approximately $8,030,000. New South Capital Management Inc. boosted its stake in ASGN by 46.0% in the third quarter. New South Capital Management Inc. now owns 456,116 shares of the business services provider’s stock worth $21,597,000 after buying an additional 143,696 shares in the last quarter. Congress Asset Management Co. purchased a new stake in ASGN in the third quarter worth approximately $4,065,000. Finally, SG Americas Securities LLC grew its position in ASGN by 1,376.9% during the third quarter. SG Americas Securities LLC now owns 73,224 shares of the business services provider’s stock valued at $3,467,000 after acquiring an additional 68,266 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About ASGN

ASGN Incorporated (NYSE:ASGN) is a leading provider of specialized staffing and professional services, delivering tailored solutions across information technology, digital transformation, engineering and scientific disciplines. Through its diversified portfolio of brands, ASGN connects clients—ranging from life sciences and healthcare firms to technology enterprises and government agencies—with highly skilled consultants, project teams and permanent personnel. The company’s model emphasizes both temporary staffing and long-term consulting engagements to address complex talent and project needs.

ASGN’s service offerings are organized into two main business segments.