ASGN (NYSE:ASGN) Sets New 52-Week Low - Should You Sell?

ASGN Incorporated (NYSE:ASGN - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $62.72 and last traded at $62.94, with a volume of 71292 shares changing hands. The stock had previously closed at $64.22.

Analyst Ratings Changes

Separately, StockNews.com downgraded ASGN from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. 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, the stock presently has an average rating of "Hold" and an average target price of $101.75.

ASGN Price Performance

The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $74.79 and its two-hundred day moving average price is $85.14. The stock has a market capitalization of $2.73 billion, a PE ratio of 16.33 and a beta of 1.34.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share 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%. On average, equities analysts predict that ASGN Incorporated will post 5.15 earnings per share for the current year.

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Institutional Investors Weigh In On ASGN

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cim Investment Management Inc. bought a new stake in ASGN during the third quarter valued at approximately $205,000. Argent Capital Management LLC boosted its stake in shares of ASGN by 31.6% during the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after acquiring an additional 3,339 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of ASGN during the 4th quarter valued at $299,000. J.Safra Asset Management Corp increased its stake in shares of ASGN by 48.1% in the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock worth $36,000 after purchasing an additional 139 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in ASGN in the 4th quarter worth $337,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

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.