ASGN (NYSE:ASGN) Reaches New 52-Week Low – Here’s Why

ASGN Incorporated (NYSE:ASGN)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $81.64 and last traded at $87.83, with a volume of 38182 shares traded. The stock had previously closed at $87.88.

Analyst Ratings Changes

Several research analysts recently weighed in on ASGN shares. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reissued a “buy” rating and set a $115.00 price objective 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 increased their target price for the stock from $96.00 to $100.00 in a research report on Friday, November 22nd. Three equities research 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.com, the company presently has an average rating of “Hold” and an average target price of $101.75.

ASGN Trading Down 3.7 %

The company has a market capitalization of $3.74 billion, a PE ratio of 21.37 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 business has a fifty day moving average price of $87.89 and a 200 day moving average price of $91.25.

ASGN (NYSE:ASGN) last announced its quarterly 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 net margin of 4.37% and a return on equity of 13.65%. Analysts expect that ASGN Incorporated will post 5.17 EPS for the current fiscal year.

Insider Transactions at ASGN

In other news, CEO Theodore S. Hanson sold 1,200 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On ASGN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. Entropy Technologies LP acquired a new position in shares of ASGN in the 4th quarter worth approximately $299,000. Argent Capital Management LLC boosted its holdings in ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after purchasing an additional 3,339 shares during the period. Cim Investment Management Inc. bought a new stake in ASGN during the third quarter valued at $205,000. Crossmark Global Holdings Inc. raised its holdings in shares of 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 period. Finally, Reinhart Partners LLC. lifted its position in shares of ASGN by 7.2% in the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after buying an additional 39,607 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.