10 Best Beaten Down Stocks to Buy According to Analysts

3. ASGN Incorporated (NYSE:ASGN)

Stock Price as of March 21: $63.66

Average Upside Potential: ~56.1%

52-week Low: $63.05

Number of Hedge Fund Holders: 24

ASGN Incorporated (NYSE:ASGN) provides information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors. BMO Capital analyst Jeffrey Silber has maintained a bullish stance on the company’s stock, providing a “Buy” rating.  The analyst’s rating is backed by strong performance in consulting, which demonstrated accelerated growth and a positive turn in bookings, even though there were weaknesses in other segments such as federal government revenues and IT spending. ASGN Incorporated (NYSE:ASGN)’s adjusted EPS exceeded expectations, driven mainly by healthy margins, showcasing operational efficiency, says the analyst.

Notably, in FY 2024, the company’s earnings per diluted share came in at $3.83. Furthermore, the strategic acquisition of TopBloc can enhance ASGN Incorporated (NYSE:ASGN)’s consulting capabilities, mainly in the Workday space, and provide opportunities related to cross-selling in the federal sector.  The analyst believes that the long-term prospects seem to be promising because of its leadership in IT staffing and federal contracting. Also, there is potential for multiple expansion as it pivots towards consulting. Elsewhere, Canaccord Genuity analyst Joseph Vafi maintained a “Buy” rating on ASGN Incorporated (NYSE:ASGN)’s stock and the associated price target is $115.00. This analyst believes that the acquisition of TopBloc is a strategic move that strengthens its position in the ERP space.