ASGN (NYSE:ASGN) Hits New 1-Year Low - What's Next?

ASGN Incorporated (NYSE:ASGN - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $82.75 and last traded at $83.42, with a volume of 167905 shares trading hands. The stock had previously closed at $87.17.

Analysts Set New Price Targets

ASGN has been the topic of a number of analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $115.00 price target on shares of ASGN in a research note on Thursday, October 24th. BMO Capital Markets raised shares of ASGN from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $96.00 to $100.00 in a research note on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on shares of ASGN from $95.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, ASGN currently has an average rating of "Hold" and a consensus price target of $97.83.

ASGN Trading Down 4.6 %

The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.06 and a beta of 1.37. The company has a fifty day moving average price of $92.34 and a 200-day moving average price of $92.26. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The firm's revenue was down 7.7% on a year-over-year basis. On average, equities research analysts predict that ASGN Incorporated will post 5.17 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Theodore S. Hanson sold 1,200 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total value of $119,568.00. Following the completion of the transaction, the chief executive officer now owns 288,855 shares of the company's stock, valued at $28,781,512.20. This represents 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. Also, Director Carol Lindstrom sold 1,060 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $93.02, for a total value of $98,601.20. Following the completion of the transaction, the director now directly owns 4,579 shares of the company's stock, valued at approximately $425,938.58. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,260 shares of company stock worth $1,168,469 in the last ninety days. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On ASGN

A number of hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. raised its position 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 acquiring an additional 800 shares during the last quarter. Argent Capital Management LLC lifted its holdings in ASGN by 12.1% in the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider's stock valued at $984,000 after buying an additional 1,142 shares during the period. Cim Investment Management Inc. bought a new position in ASGN in the third quarter valued at approximately $205,000. Handelsbanken Fonder AB grew its holdings in ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider's stock worth $1,102,000 after acquiring an additional 2,600 shares during the period. Finally, Reinhart Partners LLC. raised its position in shares of ASGN by 7.2% during the 3rd 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. 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.

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