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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on ASGN shares. BMO Capital Markets raised 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 note on Friday, November 22nd. StockNews.com downgraded ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.75.

ASGN Trading Down 0.7 %

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 moving average of $78.20 and a 200-day moving average of $86.57. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 16.70 and a beta of 1.34.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. ASGN had a return on equity of 13.22% and a net margin of 4.27%. Research analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current year.

Hedge Funds Weigh In On ASGN

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp grew its holdings in ASGN by 48.1% during the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock worth $36,000 after purchasing an additional 139 shares during the period. Cim Investment Management Inc. bought a new stake in shares of ASGN during the third quarter worth approximately $205,000. Argent Capital Management LLC boosted 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 acquiring an additional 3,339 shares during the period. Entropy Technologies LP bought a new stake in shares of ASGN during the fourth quarter worth approximately $299,000. Finally, Cibc World Markets Corp bought a new stake in shares of ASGN during the fourth quarter worth approximately $337,000. 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.