ASGN (NYSE:ASGN) Hits New 12-Month Low – Should You Sell?

ASGN Incorporated (NYSE:ASGN) hit a new 52-week low during trading on Wednesday . The company traded as low as $55.95 and last traded at $56.74, with a volume of 637077 shares trading hands. The stock had previously closed at $58.68.

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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, ASGN presently has a consensus rating of “Hold” and an average price target of $101.75.

ASGN Price Performance

The business’s fifty day simple moving average is $68.61 and its 200-day simple moving average is $82.98. 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 market cap of $2.58 billion, a P/E ratio of 15.43 and a beta of 1.20.

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

Hedge Funds Weigh In On ASGN

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in ASGN by 47,970.1% in the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock worth $41,500,000 after purchasing an additional 65,719 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of ASGN by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 6,576 shares during the period. Cibc World Markets Corp purchased a new stake in shares of ASGN in the fourth quarter worth $337,000. Entropy Technologies LP bought a new stake in ASGN during the fourth quarter valued at $299,000. Finally, Argent Capital Management LLC grew its position in ASGN by 31.6% during the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after buying an additional 3,339 shares in the last quarter. 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.