ASGN (NYSE:ASGN) Reaches New 12-Month Low - Should You Sell?

ASGN Incorporated (NYSE:ASGN - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $74.53 and last traded at $74.77, with a volume of 24413 shares. The stock had previously closed at $75.41.

Analyst Ratings Changes

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

ASGN Trading Down 3.6 %

The firm has a fifty day simple moving average of $84.52 and a two-hundred day simple moving average of $89.65. The stock has a market cap of $2.98 billion, a PE ratio of 17.57 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.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 analysts expect that ASGN Incorporated will post 5.15 earnings per share for the current fiscal year.

Institutional Trading of ASGN

Several institutional investors and hedge funds have recently modified their holdings of ASGN. Entropy Technologies LP purchased a new position in shares of ASGN during the 4th quarter valued at about $299,000. Argent Capital Management LLC raised its holdings in shares of ASGN by 31.6% during the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock valued at $1,158,000 after buying an additional 3,339 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of ASGN by 17.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider's stock valued at $505,000 after buying an additional 800 shares in the last quarter. Cim Investment Management Inc. purchased a new position in shares of ASGN during the 3rd quarter valued at about $205,000. Finally, Pinebridge Investments L.P. grew its position in ASGN by 42.7% during 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 last quarter. Hedge funds and other 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.