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

ASGN Incorporated (NYSE:ASGN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $63.08 and last traded at $63.83, with a volume of 305608 shares changing hands. The stock had previously closed at $64.46.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.75.

ASGN Stock Down 1.3 %

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’s fifty day simple moving average is $77.75 and its 200-day simple moving average is $86.30. The stock has a market cap of $2.77 billion, a P/E ratio of 16.57 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 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 year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. increased 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 acquiring an additional 6,576 shares during the period. Cibc World Markets Corp acquired a new stake in ASGN during the 4th quarter valued at $337,000. J.Safra Asset Management Corp raised its stake in ASGN by 48.1% during the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Entropy Technologies LP purchased a new position in shares of ASGN during the 4th quarter valued at $299,000. 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 valued at $1,158,000 after acquiring an additional 3,339 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.