ASGN (NYSE:ASGN) Reaches New 52-Week Low – Time to Sell?

ASGN Incorporated (NYSE:ASGN) reached a new 52-week low on Friday . The company traded as low as $63.08 and last traded at $63.83, with a volume of 305608 shares trading hands. The stock had previously closed at $64.46.

Wall Street Analyst Weigh In

ASGN has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of ASGN from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $96.00 to $100.00 in a research report on Friday, November 22nd. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, ASGN presently has a consensus rating of “Hold” and an average price target of $101.75.

ASGN Trading Down 0.7 %

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.70 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The firm’s 50-day simple moving average is $78.20 and its 200 day simple moving average is $86.57.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Entropy Technologies LP acquired a new position in shares of ASGN during the fourth quarter worth $299,000. Argent Capital Management LLC increased its holdings in shares of ASGN by 31.6% during 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 in the last quarter. Cim Investment Management Inc. acquired a new position in shares of ASGN during the third quarter worth $205,000. Pinebridge Investments L.P. increased its holdings in shares of ASGN by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after buying an additional 6,576 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of ASGN during the fourth quarter worth $337,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

About ASGN

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.