ASGN (NYSE:ASGN) Hits New 12-Month Low - What's Next?

ASGN Incorporated (NYSE:ASGN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $60.61 and last traded at $61.02, with a volume of 80620 shares changing hands. The stock had previously closed at $63.92.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of ASGN from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Three 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, the company currently has a consensus rating of "Hold" and a consensus price target of $101.75.

ASGN Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $2.47 billion, a P/E ratio of 14.78 and a beta of 1.20. The company's 50-day moving average is $71.71 and its two-hundred day moving average is $84.03.

ASGN (NYSE:ASGN - Get Free Report) last issued its 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 return on equity of 13.22% and a net margin of 4.27%. Sell-side analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

A number of hedge funds have recently made changes to their positions in ASGN. 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 valued at $41,500,000 after purchasing an additional 65,719 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in shares of ASGN by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider's stock valued at $1,832,000 after acquiring an additional 6,576 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of ASGN during the 4th quarter valued at $337,000. Entropy Technologies LP bought a new stake in ASGN during the 4th quarter worth $299,000. Finally, Argent Capital Management LLC increased its holdings in ASGN by 31.6% in the 4th 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 in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.