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

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $66.33 and last traded at $66.30, with a volume of 50206 shares traded. The stock had previously closed at $67.38.

Analyst Upgrades and Downgrades

ASGN has been the topic of several recent research reports. StockNews.com cut ASGN from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. BMO Capital Markets raised ASGN from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $96.00 to $100.00 in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.75.

ASGN Stock Up 4.5 %

The stock has a market cap of $2.98 billion, a P/E ratio of 17.82 and a beta of 1.38. 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's fifty day moving average is $81.74 and its 200 day moving average is $88.51.

ASGN (NYSE:ASGN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, topping 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, equities research analysts forecast that ASGN Incorporated will post 5.15 EPS for the current year.

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Institutional Investors Weigh In On ASGN

Several hedge funds and other institutional investors have recently modified their holdings of ASGN. Entropy Technologies LP bought a new stake in ASGN in the 4th quarter valued at $299,000. 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. Crossmark Global Holdings Inc. increased its stake in ASGN by 17.3% during the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider's stock valued at $505,000 after acquiring an additional 800 shares during the period. Cim Investment Management Inc. acquired a new position in ASGN in the 3rd quarter valued at approximately $205,000. Finally, Pinebridge Investments L.P. lifted its position 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 worth $1,832,000 after acquiring an additional 6,576 shares during the period. Institutional investors and hedge funds 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.