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

Shares of ASGN Incorporated (NYSE:ASGN - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $84.06 and last traded at $85.21, with a volume of 29597 shares. The stock had previously closed at $85.74.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ASGN shares. 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. Jefferies Financial Group cut their price target on shares of ASGN from $95.00 to $88.00 and set a "hold" rating for the company in a research note on Monday, September 9th. Finally, BMO Capital Markets boosted their price target on shares of ASGN from $94.00 to $96.00 and gave the stock a "market perform" rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $97.44.

ASGN Stock Down 1.6 %

The company has a market cap of $3.73 billion, a PE ratio of 21.39 and a beta of 1.40. The stock's 50 day moving average price is $93.94 and its 200-day moving average price is $93.53. 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 issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.68 EPS. The company's revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts predict that ASGN Incorporated will post 5.17 earnings per share for the current year.

Insider Activity at ASGN

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total value of $45,496.35. Following the sale, the director now owns 10,821 shares in the company, valued at approximately $978,759.45. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arshad Matin sold 2,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the transaction, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. This represents a 14.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,763 shares of company stock worth $1,398,986 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASGN. LRI Investments LLC bought a new position in ASGN during the first quarter valued at approximately $154,000. SG Americas Securities LLC increased its holdings in ASGN by 1,851.6% during the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider's stock valued at $1,753,000 after buying an additional 18,868 shares during the last quarter. Argent Capital Management LLC increased its holdings in ASGN by 43.8% during the second quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider's stock valued at $830,000 after buying an additional 2,868 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider's stock valued at $1,102,000 after buying an additional 2,600 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider's stock valued at $54,912,000 after buying 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.