ASGN (NYSE:ASGN) Hits New 1-Year Low – Here’s Why

ASGN Incorporated (NYSE:ASGN) shares hit a new 52-week low during trading on Friday . The stock traded as low as $62.72 and last traded at $62.94, with a volume of 71292 shares traded. The stock had previously closed at $64.22.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.75.

ASGN Price Performance

The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 16.38 and a beta of 1.34. 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 stock has a 50-day simple moving average of $75.81 and a 200 day simple moving average of $85.58.

ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. ASGN had a net margin of 4.27% and a return on equity of 13.22%. On average, equities research analysts forecast that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

A number of large investors have recently bought and sold shares of ASGN. J.Safra Asset Management Corp lifted its position in shares of ASGN by 48.1% in the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock worth $36,000 after buying an additional 139 shares during the last quarter. Cim Investment Management Inc. acquired a new position in ASGN during the third quarter valued at approximately $205,000. Entropy Technologies LP bought a new position in shares of ASGN in the fourth quarter valued at approximately $299,000. Cibc World Markets Corp acquired a new stake in shares of ASGN in the fourth quarter worth $337,000. Finally, Argent Capital Management LLC lifted its stake in shares of ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after buying an additional 3,339 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.