ASGN (NYSE:ASGN) Reaches New 12-Month Low – Should You Sell?

ASGN Incorporated (NYSE:ASGN) shares reached a new 52-week low during trading on Friday . The company traded as low as $62.72 and last traded at $62.94, with a volume of 71292 shares traded. The stock had previously closed at $64.22.

Analysts Set New Price Targets

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

ASGN Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market capitalization of $2.75 billion, a P/E ratio of 16.42 and a beta of 1.34. The firm has a 50 day moving average price of $75.30 and a two-hundred day moving average price of $85.35.

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, equities research analysts expect that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. lifted its holdings in shares of ASGN by 42.7% in 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 purchasing an additional 6,576 shares in the last quarter. Argent Capital Management LLC grew its stake 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 valued at $1,158,000 after acquiring an additional 3,339 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of ASGN in the 4th quarter valued at about $337,000. Entropy Technologies LP purchased a new stake in shares of ASGN in the fourth quarter worth approximately $299,000. Finally, Cim Investment Management Inc. acquired a new stake in shares of ASGN during the third quarter worth approximately $205,000. 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.