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

ASGN Incorporated (NYSE:ASGN) shares hit a new 52-week low on Thursday . The stock traded as low as $81.64 and last traded at $87.83, with a volume of 38182 shares. The stock had previously closed at $87.88.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ASGN. BMO Capital Markets raised shares of 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. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of ASGN in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, ASGN has an average rating of “Hold” and an average target price of $101.75.

ASGN Stock Down 4.8 %

The firm has a market cap of $3.48 billion, a P/E ratio of 19.93 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The firm’s fifty day moving average is $87.73 and its 200 day moving average is $91.19.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. ASGN had a return on equity of 13.65% and a net margin of 4.37%. As a group, equities research analysts anticipate that ASGN Incorporated will post 5.17 earnings per share for the current fiscal year.

Insider Activity

In other ASGN news, CEO Theodore S. Hanson sold 1,200 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $99.64, for a total transaction of $119,568.00. Following the transaction, the chief executive officer now owns 288,855 shares in the company, valued at $28,781,512.20. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Argent Capital Management LLC increased its holdings in ASGN by 31.6% in 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 buying an additional 3,339 shares during the period. Reinhart Partners LLC. increased its stake in ASGN by 7.2% in 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 during the last quarter. Crossmark Global Holdings Inc. lifted 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 worth $505,000 after purchasing an additional 800 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of 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 in the last quarter. Finally, Cim Investment Management Inc. acquired a new stake in ASGN in the third quarter valued at about $205,000. Institutional investors and hedge funds 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.