ASGN (NYSE:ASGN) Sets New 1-Year Low - Here's What Happened

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $63.08 and last traded at $63.83, with a volume of 305608 shares. The stock had previously closed at $64.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of ASGN from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.75.

ASGN Price Performance

The firm has a market cap of $2.82 billion, a P/E ratio of 16.81 and a beta of 1.34. The business has a 50-day simple moving average of $77.28 and a 200 day simple moving average of $86.06. 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, February 5th. The business services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. ASGN had a net margin of 4.27% and a return on equity of 13.22%. On average, analysts anticipate that ASGN Incorporated will post 5.15 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On ASGN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its stake in shares of ASGN by 48.1% in the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock worth $36,000 after acquiring an additional 139 shares in the last quarter. Cim Investment Management Inc. purchased a new stake in ASGN in the third quarter worth about $205,000. Argent Capital Management LLC increased its stake in shares of ASGN by 31.6% during the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock valued at $1,158,000 after purchasing an additional 3,339 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of ASGN during the fourth quarter valued at approximately $299,000. Finally, Cibc World Markets Corp bought a new stake in shares of ASGN in the 4th quarter worth approximately $337,000. 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.