ASGN (NYSE:ASGN) Trading Down 5% – What’s Next?

ASGN Incorporated (NYSE:ASGN) shares fell 5% during mid-day trading on Wednesday . The company traded as low as $68.53 and last traded at $67.70. 36,533 shares were traded during mid-day trading, a decline of 89% from the average session volume of 345,289 shares. The stock had previously closed at $71.26.

Analyst Ratings Changes

Several research firms have recently weighed in on ASGN. BMO Capital Markets raised shares of ASGN from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. StockNews.com cut 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.75.

ASGN Trading Down 3.9 %

The stock’s 50-day moving average is $80.68 and its two-hundred day moving average is $87.84. 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 stock has a market cap of $2.99 billion, a P/E ratio of 17.78 and a beta of 1.34.

ASGN (NYSE:ASGN) last released its 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%. Equities research analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASGN. Pinebridge Investments L.P. lifted its stake in shares of ASGN by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock valued at $1,832,000 after buying an additional 6,576 shares during the period. Cibc World Markets Corp purchased a new position in ASGN in the 4th quarter worth approximately $337,000. Entropy Technologies LP acquired a new position in shares of ASGN in the fourth quarter worth about $299,000. Argent Capital Management LLC grew its holdings in 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 acquiring an additional 3,339 shares in the last quarter. Finally, Cim Investment Management Inc. acquired a new stake in ASGN during the third quarter valued at approximately $205,000. 95.36% of the stock is owned by hedge funds and other 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.