ASGN (NYSE:ASGN) Hits New 12-Month Low - Time to Sell?

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $78.43 and last traded at $79.43, with a volume of 741742 shares. The stock had previously closed at $80.21.

Analysts Set New Price Targets

A number of analysts recently weighed in on ASGN shares. StockNews.com downgraded ASGN from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. BMO Capital Markets upgraded ASGN from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $96.00 to $100.00 in a report on Friday, November 22nd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $115.00 price target on shares of ASGN in a report on Thursday, October 24th. Three equities 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, the stock has an average rating of "Hold" and a consensus target price of $101.75.

ASGN Price Performance

The business has a 50-day simple moving average of $86.26 and a 200 day simple moving average of $90.31. The firm has a market cap of $3.33 billion, a P/E ratio of 19.62 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.

ASGN (NYSE:ASGN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.22% and a net margin of 4.27%. On average, analysts anticipate that ASGN Incorporated will post 5.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ASGN

A number of institutional investors and hedge funds have recently bought and sold shares of ASGN. 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 last quarter. Cibc World Markets Corp purchased a new position in shares of ASGN during the fourth quarter valued at approximately $337,000. Entropy Technologies LP purchased a new position in shares of ASGN during the fourth quarter valued at approximately $299,000. Argent Capital Management LLC boosted its holdings in shares of ASGN by 31.6% in 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 purchasing an additional 3,339 shares during the period. Finally, Cim Investment Management Inc. purchased a new stake in shares of ASGN in the third quarter valued at approximately $205,000. 95.36% of the stock is owned by 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.