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

ASGN Incorporated (NYSE:ASGN)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $82.04 and last traded at $82.20, with a volume of 31477 shares trading hands. The stock had previously closed at $83.69.

Wall Street Analysts Forecast Growth

ASGN has been the topic of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 target price on shares of ASGN in a research report on Thursday, October 24th. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $96.00 to $100.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.83.

ASGN Stock Down 0.8 %

The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.01 and a beta of 1.37. 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 fifty day moving average of $90.31 and a two-hundred day moving average of $91.74.

ASGN (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $1.68 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Sell-side analysts anticipate that ASGN Incorporated will post 5.17 earnings per share for the current year.

Insider Activity

In other news, CEO Theodore S. Hanson sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the completion of the sale, the chief executive officer now owns 288,855 shares of the company’s stock, valued at $28,781,512.20. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Randolph C. Blazer sold 10,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $95.03, for a total transaction of $950,300.00. Following the transaction, the president now owns 85,923 shares in the company, valued at $8,165,262.69. The trade was a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,260 shares of company stock valued at $1,168,469. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASGN

Large investors have recently bought and sold shares of the stock. Reinhart Partners LLC. increased its holdings in shares of ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after acquiring an additional 39,607 shares in the last quarter. Handelsbanken Fonder AB grew its position in ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after purchasing an additional 2,600 shares during the period. Cim Investment Management Inc. bought a new stake in ASGN during the 3rd quarter valued at $205,000. Argent Capital Management LLC raised its holdings in ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after buying an additional 1,142 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of ASGN by 17.3% in the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after buying an additional 800 shares in the last quarter. 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.