ASGN (NYSE:ASGN) Shares Gap Down – What’s Next?

Shares of ASGN Incorporated (NYSE:ASGN) gapped down before the market opened on Wednesday . The stock had previously closed at $53.25, but opened at $50.42. ASGN shares last traded at $51.1450, with a volume of 17,043 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on ASGN. BMO Capital Markets reissued an “outperform” rating and set a $57.00 price objective on shares of ASGN in a research note on Wednesday, December 3rd. Truist Financial lifted their target price on shares of ASGN from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Wells Fargo & Company cut their price target on ASGN from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ASGN in a research report on Wednesday, January 21st. Finally, UBS Group dropped their target price on ASGN from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $51.33.

ASGN Price Performance

The stock has a market capitalization of $2.25 billion, a P/E ratio of 17.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a fifty day moving average price of $48.58 and a two-hundred day moving average price of $48.66.

Hedge Funds Weigh In On ASGN

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of ASGN by 97.8% in the 4th quarter. GAMMA Investing LLC now owns 542 shares of the business services provider’s stock worth $26,000 after purchasing an additional 268 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in ASGN by 85.3% during the third quarter. EverSource Wealth Advisors LLC now owns 543 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 250 shares during the period. Torren Management LLC purchased a new stake in ASGN in the fourth quarter worth about $34,000. LRI Investments LLC raised its stake in shares of ASGN by 761.9% in the third quarter. LRI Investments LLC now owns 1,741 shares of the business services provider’s stock worth $82,000 after buying an additional 1,539 shares during the period. Finally, Seizert Capital Partners LLC purchased a new position in shares of ASGN during the 4th quarter valued at about $245,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

ASGN Company Profile

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.