ASGN (NYSE:ASGN) Reaches New 52-Week Low – Time to Sell?

ASGN Incorporated (NYSE:ASGN)’s share price 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. The stock had previously closed at $64.22.

Analysts Set New Price Targets

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

ASGN Stock Performance

The firm’s fifty day moving average price is $75.81 and its 200-day moving average price is $85.58. The company has a market cap of $2.74 billion, a P/E ratio of 16.38 and a beta of 1.34. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share (EPS) 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%. As a group, research analysts forecast that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

Several institutional investors and hedge funds have recently bought and sold shares of ASGN. Pinebridge Investments L.P. lifted its position in shares of ASGN by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after buying an additional 6,576 shares during the period. Argent Capital Management LLC lifted its holdings in shares of ASGN by 31.6% during the fourth 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 period. Cibc World Markets Corp bought a new position in shares of ASGN during the fourth quarter valued at $337,000. Entropy Technologies LP acquired a new stake in shares of ASGN in the 4th quarter valued at $299,000. Finally, Cim Investment Management Inc. bought a new stake in shares of ASGN in the 3rd quarter worth about $205,000. 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.