ASGN (NYSE:ASGN) Hits New 52-Week Low – What’s Next?

ASGN Incorporated (NYSE:ASGN) reached a new 52-week low during trading on Wednesday . The stock traded as low as $78.43 and last traded at $79.43, with a volume of 741742 shares. The stock had previously closed at $80.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ASGN shares. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a report on Thursday, October 24th. StockNews.com lowered ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, ASGN has an average rating of “Hold” and an average target price of $101.75.

ASGN Trading Down 1.0 %

The company has a market cap of $3.51 billion, a price-to-earnings ratio of 20.69 and a beta of 1.38. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $87.24 and its two-hundred day simple moving average is $90.78.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. ASGN had a net margin of 4.27% and a return on equity of 13.22%. On average, equities analysts predict that ASGN Incorporated will post 5.38 EPS for the current year.

Institutional Investors Weigh In On ASGN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. Cibc World Markets Corp acquired a new position in ASGN in the fourth quarter valued at $337,000. J.Safra Asset Management Corp grew its holdings in shares of ASGN by 48.1% during the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock worth $36,000 after buying an additional 139 shares during the last quarter. Entropy Technologies LP acquired a new position in ASGN in the 4th quarter valued at about $299,000. Argent Capital Management LLC raised 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 during the last quarter. Finally, Cim Investment Management Inc. purchased a new stake in ASGN during the 3rd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.