Truist Financial Issues Pessimistic Forecast for ASGN (NYSE:ASGN) Stock Price

ASGN (NYSE:ASGN) had its price target reduced by Truist Financial from $105.00 to $75.00 in a research report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Separately, StockNews.com lowered shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.40.

ASGN Price Performance

ASGN opened at $59.02 on Tuesday. ASGN has a twelve month low of $55.95 and a twelve month high of $105.67. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 15.37 and a beta of 1.20. The company has a fifty day simple moving average of $67.04 and a 200 day simple moving average of $82.28.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. ASGN had a return on equity of 13.22% and a net margin of 4.27%. Equities research analysts expect that ASGN will post 5.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of hedge funds and other institutional investors have recently bought and sold shares of ASGN. Reinhart Partners LLC. grew its stake in ASGN by 13.4% during the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider’s stock worth $41,971,000 after buying an additional 78,794 shares during the last quarter. GAMMA Investing LLC grew its position in shares of ASGN by 47,970.1% during the first quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock worth $41,500,000 after acquiring an additional 65,719 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of 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 acquiring an additional 6,576 shares during the period. SG Americas Securities LLC bought a new stake in ASGN in the 1st quarter valued at about $396,000. Finally, Cibc World Markets Corp acquired a new position in ASGN during the 4th quarter valued at about $337,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.