Truist Financial Cuts ASGN (NYSE:ASGN) Price Target to $75.00

ASGN (NYSE:ASGN - Free Report) had its target price cut by Truist Financial from $105.00 to $75.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the business services provider's stock.

Separately, StockNews.com downgraded ASGN from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, ASGN currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.40.

ASGN Stock Performance

Shares of ASGN stock traded down $1.10 during trading on Tuesday, reaching $58.18. 398,633 shares of the company's stock were exchanged, compared to its average volume of 384,922. ASGN has a twelve month low of $55.95 and a twelve month high of $105.67. The firm's fifty day moving average price is $65.79 and its 200-day moving average price is $81.64. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.56 billion, a PE ratio of 15.15 and a beta of 1.20.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. ASGN had a net margin of 4.27% and a return on equity of 13.22%. As a group, sell-side analysts anticipate that ASGN will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASGN. J.Safra Asset Management Corp grew its position in ASGN by 48.1% during the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock worth $36,000 after buying an additional 139 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ASGN by 662.8% during the 1st quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock worth $66,000 after purchasing an additional 908 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in shares of ASGN during the 3rd quarter worth $205,000. Argent Capital Management LLC increased its position in shares of ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after purchasing an additional 3,339 shares during the period. Finally, Entropy Technologies LP acquired a new position in ASGN in the fourth quarter valued at about $299,000. 95.36% of the stock is owned by 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.