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

ASGN Incorporated (NYSE:ASGN) reached a new 52-week low on Tuesday . The company traded as low as $74.53 and last traded at $74.77, with a volume of 24413 shares trading hands. The stock had previously closed at $75.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.75.

ASGN Trading Down 3.6 %

The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 18.21 and a beta of 1.38. 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 $85.30 and its 200 day simple moving average is $89.91.

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 Trading of ASGN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Entropy Technologies LP bought a new stake in shares of ASGN during the fourth quarter worth $299,000. Argent Capital Management LLC grew its stake 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 during the last quarter. Crossmark Global Holdings Inc. grew 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 worth $505,000 after buying an additional 800 shares during the last quarter. Cim Investment Management Inc. bought a new stake in shares of ASGN during the third quarter worth $205,000. Finally, Pinebridge Investments L.P. grew its stake 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 during the last quarter. 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.