ASGN (NYSE:ASGN) Receives "Hold" Rating from Canaccord Genuity Group

ASGN (NYSE:ASGN - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Canaccord Genuity Group in a research note issued on Friday, MarketBeat reports. They currently have a $55.00 price objective on the business services provider's stock, down from their prior price objective of $115.00. Canaccord Genuity Group's price target would suggest a potential upside of 7.76% from the company's previous close.

A number of other equities research analysts have also recently commented on ASGN. UBS Group reduced their target price on shares of ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a report on Thursday. Truist Financial lowered their target price on ASGN from $105.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, StockNews.com lowered shares of ASGN from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $74.40.

ASGN Stock Down 0.6 %

Shares of NYSE:ASGN traded down $0.33 during trading hours on Friday, reaching $51.04. The stock had a trading volume of 626,212 shares, compared to its average volume of 391,833. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.29 and a beta of 1.20. The firm's 50 day moving average is $63.75 and its 200-day moving average is $80.11. ASGN has a 1 year low of $47.64 and a 1 year high of $105.67. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.03). The firm had revenue of $968.30 million for the quarter, compared to analysts' expectations of $971.00 million. ASGN had a return on equity of 13.22% and a net margin of 4.27%. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Research analysts predict that ASGN will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of large investors have recently modified their holdings of the company. Reinhart Partners LLC. raised its holdings in shares of ASGN by 13.4% during the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider's stock valued at $41,971,000 after buying an additional 78,794 shares during the period. GAMMA Investing LLC grew its holdings in ASGN by 47,970.1% during the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider's stock valued at $41,500,000 after purchasing an additional 65,719 shares in the last quarter. Pinebridge Investments L.P. lifted 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 worth $1,832,000 after buying an additional 6,576 shares in the last quarter. SG Americas Securities LLC purchased a new position in ASGN in the 1st quarter valued at about $396,000. Finally, Cibc World Markets Corp acquired a new position in shares of ASGN in the fourth quarter worth about $337,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

ASGN Company Profile

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.