ASGN (NYSE:ASGN) Given “Underperform” Rating at Jefferies Financial Group

Jefferies Financial Group reissued their underperform rating on shares of ASGN (NYSE:ASGN) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $42.00 target price on the business services provider’s stock, down from their previous target price of $53.00.

Other equities research analysts have also issued research reports about the company. Truist Financial dropped their target price on 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 reiterated a “hold” rating and issued a $55.00 target price (down previously from $115.00) on shares of ASGN in a research report on Friday, April 25th. Wells Fargo & Company started coverage on ASGN in a research report on Tuesday, June 3rd. They issued an “equal weight” rating and a $56.00 price objective on the stock. Finally, UBS Group lowered their price objective on ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.67.

ASGN Price Performance

Shares of NYSE ASGN opened at $51.21 on Monday. The business’s 50 day moving average price is $52.80 and its 200 day moving average price is $65.99. The firm has a market cap of $2.25 billion, a P/E ratio of 14.59 and a beta of 0.97. ASGN has a 52 week low of $47.64 and a 52 week high of $105.67. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.72.

ASGN (NYSE:ASGN) last issued its earnings results 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). The firm had revenue of $968.30 million during the quarter, compared to analysts’ expectations of $971.00 million. ASGN had a net margin of 3.93% and a return on equity of 12.55%. ASGN’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. On average, sell-side analysts expect that ASGN will post 5.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ASGN. GAMMA Investing LLC lifted its position 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 valued at $66,000 after buying an additional 908 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of ASGN during the 4th quarter valued at approximately $337,000. SG Americas Securities LLC purchased a new position in shares of ASGN during the 1st quarter valued at approximately $396,000. Entropy Technologies LP lifted its position in shares of ASGN by 105.5% during the 1st quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider’s stock valued at $465,000 after buying an additional 3,788 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of ASGN by 3.1% during 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 buying an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.