ASGN (NYSE:ASGN) Reaches New 12-Month Low – Time to Sell?

ASGN Incorporated (NYSE:ASGN)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $74.53 and last traded at $74.77, with a volume of 24413 shares. The stock had previously closed at $75.41.

Analyst Upgrades and Downgrades

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

ASGN Stock Down 3.6 %

The company has a market cap of $3.09 billion, a P/E ratio of 18.21 and a beta of 1.38. The stock’s 50-day moving average price is $85.30 and its 200-day moving average price is $89.91. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $1.28 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that ASGN Incorporated will post 5.15 EPS for the current year.

Hedge Funds Weigh In On ASGN

Large investors have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp lifted its position in ASGN by 48.1% in the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 139 shares in the last quarter. Cim Investment Management Inc. purchased a new stake in ASGN in the 3rd quarter valued at about $205,000. Entropy Technologies LP purchased a new stake in ASGN in the 4th quarter valued at about $299,000. Cibc World Markets Corp purchased a new stake in ASGN in the 4th quarter valued at about $337,000. Finally, Crossmark Global Holdings Inc. increased its stake in ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after buying an additional 800 shares during the last quarter. Institutional investors 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.