ASGN (NYSE:ASGN) Hits New 12-Month Low – Should You Sell?

ASGN Incorporated (NYSE:ASGN)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $78.43 and last traded at $79.43, with a volume of 741742 shares traded. The stock had previously closed at $80.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ASGN shares. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $96.00 to $100.00 in a research report on Friday, November 22nd. StockNews.com lowered ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 target price on shares of ASGN in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.75.

ASGN Stock Down 0.0 %

The business’s 50 day moving average price is $86.76 and its 200-day moving average price is $90.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market capitalization of $3.42 billion, a PE ratio of 20.14 and a beta of 1.38.

ASGN (NYSE:ASGN) last announced its 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 net margin of 4.27% and a return on equity of 13.22%. As a group, equities research analysts forecast that ASGN Incorporated will post 5.38 earnings per share for the current year.

Hedge Funds Weigh In On ASGN

A number of hedge funds have recently added to or reduced their stakes in ASGN. J.Safra Asset Management Corp increased its stake in ASGN by 48.1% during the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after buying an additional 139 shares during the period. Cim Investment Management Inc. purchased a new stake in ASGN during the third quarter valued at about $205,000. Entropy Technologies LP purchased a new position in shares of ASGN during the fourth quarter valued at $299,000. Cibc World Markets Corp acquired a new stake in shares of ASGN during the 4th quarter valued at $337,000. Finally, Crossmark Global Holdings Inc. increased its holdings in ASGN by 17.3% in the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds 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.