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

Shares of ASGN Incorporated (NYSE:ASGN) reached a new 52-week low during trading on Thursday . The stock traded as low as $81.64 and last traded at $87.83, with a volume of 38182 shares changing hands. The stock had previously closed at $87.88.

Analysts Set New Price Targets

A number of research analysts recently commented on ASGN shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a report on Thursday, October 24th. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Finally, StockNews.com lowered shares of ASGN from a “buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat.com, ASGN has an average rating of “Hold” and a consensus target price of $101.75.

ASGN Price Performance

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 has a market capitalization of $3.74 billion, a price-to-earnings ratio of 21.37 and a beta of 1.38. The stock has a 50 day moving average price of $87.89 and a two-hundred day moving average price of $91.25.

ASGN (NYSE:ASGN) last issued its quarterly 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 4.37% and a return on equity of 13.65%. As a group, analysts expect that ASGN Incorporated will post 5.17 EPS for the current year.

Insider Buying and Selling

In other ASGN news, CEO Theodore S. Hanson sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the completion of the transaction, the chief executive officer now owns 288,855 shares in the company, valued at $28,781,512.20. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by insiders.

Institutional Trading of ASGN

A number of institutional investors have recently bought and sold shares of the business. Cim Investment Management Inc. purchased a new position in ASGN during the 3rd quarter worth approximately $205,000. Entropy Technologies LP acquired a new stake in ASGN during the 4th quarter worth $299,000. Crossmark Global Holdings Inc. grew its position in ASGN by 17.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after purchasing an additional 800 shares during the last quarter. Argent Capital Management LLC raised its holdings in shares of ASGN by 12.1% in the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock valued at $984,000 after buying an additional 1,142 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after buying an additional 2,600 shares during the period. 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.