ASGN (NYSE:ASGN) Hits New 12-Month Low – Here’s Why

ASGN Incorporated (NYSE:ASGN) hit a new 52-week low on Thursday . The stock traded as low as $60.61 and last traded at $61.02, with a volume of 80620 shares traded. The stock had previously closed at $63.92.

Analyst Ratings Changes

Separately, StockNews.com downgraded ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ASGN currently has a consensus rating of “Hold” and an average target price of $101.75.

ASGN Stock Down 3.7 %

The company has a market cap of $2.68 billion, a P/E ratio of 16.02 and a beta of 1.34. The business’s fifty day moving average is $73.66 and its two-hundred day moving average is $84.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25.

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

Hedge Funds Weigh In On ASGN

A number of large investors have recently added to or reduced their stakes in ASGN. Pinebridge Investments L.P. grew its position in shares of ASGN by 42.7% in the 4th 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. Cibc World Markets Corp acquired a new position in ASGN in the fourth quarter valued at approximately $337,000. J.Safra Asset Management Corp lifted its stake in shares of 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 purchasing an additional 139 shares during the period. Entropy Technologies LP acquired a new stake in shares of ASGN during the 4th quarter valued at about $299,000. Finally, Argent Capital Management LLC grew its holdings in ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock valued at $1,158,000 after purchasing an additional 3,339 shares during the period. 95.36% of the stock is currently owned by institutional investors.

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.