ASGN (NYSE:ASGN) Sets New 1-Year Low – Time to Sell?

ASGN Incorporated (NYSE:ASGN)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $55.95 and last traded at $56.74, with a volume of 637077 shares traded. The stock had previously closed at $58.68.

Analyst Upgrades and Downgrades

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

ASGN Price Performance

The company has a market cap of $2.47 billion, a price-to-earnings ratio of 14.78 and a beta of 1.20. The company has a fifty day simple moving average of $70.25 and a two-hundred day simple moving average of $83.58. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASGN. J.Safra Asset Management Corp increased its position 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 buying an additional 139 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in shares of ASGN during the third quarter valued at $205,000. Argent Capital Management LLC boosted 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 valued at $1,158,000 after acquiring an additional 3,339 shares during the last quarter. Entropy Technologies LP purchased a new stake in ASGN during the 4th quarter worth about $299,000. Finally, Cibc World Markets Corp acquired a new position in ASGN in the 4th quarter valued at about $337,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.