ASGN (NYSE:ASGN) Sets New 1-Year Low – What’s Next?

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

Analysts Set New Price Targets

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

ASGN Stock 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 $3.00 billion, a PE ratio of 17.65 and a beta of 1.38. The firm has a fifty day moving average price of $84.52 and a 200 day moving average price of $89.71.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share 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%. Research analysts anticipate that ASGN Incorporated will post 5.15 earnings per share for the current fiscal year.

Institutional Trading of ASGN

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. raised its holdings in ASGN by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after acquiring an additional 6,576 shares during the period. Cibc World Markets Corp acquired a new stake in shares of ASGN in the fourth quarter valued at about $337,000. J.Safra Asset Management Corp increased its stake in shares of 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. Entropy Technologies LP acquired a new position in shares of ASGN during the 4th quarter worth about $299,000. Finally, Argent Capital Management LLC boosted 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 purchasing an additional 3,339 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.