ASGN (NYSE:ASGN) Sets New 1-Year Low – Should You Sell?

Shares of ASGN Incorporated (NYSE:ASGN) reached a new 52-week low on Tuesday . The company traded as low as $74.53 and last traded at $74.77, with a volume of 24413 shares. The stock had previously closed at $75.41.

Wall Street Analysts Forecast Growth

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

ASGN Trading Down 2.8 %

The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $85.96 and a 200 day moving average of $90.16. The company has a market cap of $3.24 billion, a P/E ratio of 19.08 and a beta of 1.38.

ASGN (NYSE:ASGN) last posted its 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, analysts predict that ASGN Incorporated will post 5.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ASGN

Hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp grew its position 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 valued at $36,000 after purchasing an additional 139 shares in the last quarter. Cim Investment Management Inc. bought a new stake in ASGN during the third quarter valued at $205,000. Entropy Technologies LP bought a new stake in ASGN during the fourth quarter valued at $299,000. Cibc World Markets Corp bought a new stake in ASGN during the fourth quarter valued at $337,000. Finally, Crossmark Global Holdings Inc. boosted its stake in ASGN by 17.3% during 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 during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.