ASGN (NYSE:ASGN) Reaches New 1-Year Low – Here’s Why

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

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.75.

ASGN Trading Down 0.7 %

The business has a fifty day moving average price of $72.42 and a 200-day moving average price of $84.39. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.67 billion, a P/E ratio of 15.94 and a beta of 1.34.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. ASGN had a return on equity of 13.22% and a net margin of 4.27%. On average, analysts forecast that ASGN Incorporated will post 5.15 earnings per share for the current year.

Institutional Trading of ASGN

Institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp raised its position in shares of ASGN by 48.1% in the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after buying an additional 139 shares in the last quarter. Cim Investment Management Inc. acquired a new position in ASGN in the 3rd quarter valued at $205,000. Entropy Technologies LP acquired a new position in ASGN in the 4th quarter valued at $299,000. Cibc World Markets Corp bought a new stake in shares of ASGN during the 4th quarter valued at $337,000. Finally, Argent Capital Management LLC grew its holdings in shares of ASGN by 31.6% during the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after purchasing an additional 3,339 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

ASGN Company Profile

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.