ASGN (NYSE:EFOR) Stock Price Up 18.6% After Earnings Beat

Shares of ASGN Incorporated (NYSE:EFOR) shot up 18.6% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $28.27 and last traded at $27.77. Approximately 160,915 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,043,969 shares. The stock had previously closed at $23.41.

The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $983.00 million. ASGN had a return on equity of 10.30% and a net margin of 2.46%.ASGN’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. ASGN has set its Q3 2026 guidance at 0.920-1.100 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on EFOR. BMO Capital Markets lowered ASGN from an “outperform” rating to a “market perform” rating and set a $33.00 price target on the stock. in a report on Thursday, April 23rd. Jefferies Financial Group upgraded ASGN from an “underperform” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $22.00 in a research note on Friday, May 29th. Truist Financial raised ASGN from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $36.00 in a research report on Wednesday, July 22nd. Robert W. Baird lowered their target price on ASGN from $62.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company cut their price target on shares of ASGN from $54.00 to $33.00 and set an “equal weight” rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ASGN currently has a consensus rating of “Reduce” and a consensus target price of $29.83.

Institutional Investors Weigh In On ASGN

Several large investors have recently added to or reduced their stakes in the company. Reinhart Partners LLC. raised its stake in ASGN by 12.5% in the 4th quarter. Reinhart Partners LLC. now owns 1,206,940 shares of the company’s stock valued at $58,139,000 after acquiring an additional 134,513 shares during the period. New South Capital Management Inc. increased its stake in shares of ASGN by 39.2% in the fourth quarter. New South Capital Management Inc. now owns 635,011 shares of the company’s stock worth $30,588,000 after purchasing an additional 178,895 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of ASGN during the 3rd quarter valued at approximately $8,030,000. SG Americas Securities LLC boosted its holdings in ASGN by 68.9% in the 1st quarter. SG Americas Securities LLC now owns 68,386 shares of the company’s stock worth $2,647,000 after buying an additional 27,903 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in ASGN by 106.4% in the 4th quarter. Russell Investments Group Ltd. now owns 62,934 shares of the company’s stock worth $3,032,000 after buying an additional 32,437 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

ASGN Trading Up 20.4%

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 12.47 and a beta of 0.52. The stock’s fifty day simple moving average is $19.52. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10.

About ASGN

ASGN is a provider of professional services that connects skilled talent with organizations seeking technology, digital, creative and engineering expertise. The firm focuses on staffing and workforce solutions, delivering contract and permanent placement services as well as project-based consulting and managed services to support clients’ technical and operational needs.

Its offerings commonly include IT consulting, digital transformation support, application development and maintenance, data and analytics, cybersecurity, cloud services and engineering resources.