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

ASGN Incorporated (NYSE:ASGN)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $66.69 and last traded at $67.27, with a volume of 37692 shares changing hands. The stock had previously closed at $67.42.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $96.00 to $100.00 in a research note on Friday, November 22nd. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.75.

ASGN Trading Up 2.4 %

The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.30 and a beta of 1.38. The business’s 50-day simple moving average is $84.12 and its two-hundred day simple moving average is $89.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, beating 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%. On average, 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 institutional investors have recently added to or reduced their stakes in ASGN. J.Safra Asset Management Corp lifted its holdings in ASGN by 48.1% in 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. acquired a new stake in shares of ASGN in the third quarter valued at $205,000. Entropy Technologies LP acquired a new stake in ASGN in the 4th quarter valued at about $299,000. Cibc World Markets Corp acquired a new position in shares of ASGN in the 4th quarter worth approximately $337,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of ASGN by 17.3% in 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 in the last quarter. Institutional investors and hedge funds 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.