ASGN (NYSE:ASGN) Reaches New 12-Month Low – What’s Next?

ASGN Incorporated (NYSE:ASGN)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $84.06 and last traded at $85.21, with a volume of 29597 shares. The stock had previously closed at $85.74.

Wall Street Analysts Forecast Growth

ASGN has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, September 9th. BMO Capital Markets boosted their price objective on ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 price target on shares of ASGN in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.44.

ASGN Stock Performance

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 business has a 50-day simple moving average of $93.80 and a 200-day simple moving average of $93.45. The firm has a market capitalization of $3.76 billion, a PE ratio of 21.35 and a beta of 1.40.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. ASGN’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. Equities research analysts expect that ASGN Incorporated will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ASGN news, CEO Theodore S. Hanson sold 1,200 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $99.64, for a total value of $119,568.00. Following the sale, the chief executive officer now owns 288,855 shares in the company, valued at $28,781,512.20. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arshad Matin sold 2,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. The trade was a 14.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,763 shares of company stock worth $1,398,986 over the last three months. 3.20% of the stock is owned by insiders.

Institutional Trading of ASGN

A number of hedge funds and other institutional investors have recently bought and sold shares of ASGN. Reinhart Partners LLC. increased its stake in shares of ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after buying an additional 39,607 shares during the period. SG Americas Securities LLC increased its stake in shares of ASGN by 1,851.6% during the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after buying an additional 18,868 shares during the period. Handelsbanken Fonder AB increased its stake in shares of ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after buying an additional 2,600 shares during the period. Argent Capital Management LLC increased its stake in shares of ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock valued at $984,000 after buying an additional 1,142 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of ASGN by 17.3% during the third 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 period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.