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

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

Analyst Upgrades and Downgrades

ASGN has been the subject of several recent analyst reports. BMO Capital Markets raised ASGN from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. StockNews.com lowered shares of ASGN from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $115.00 target price on shares of ASGN in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $101.75.

ASGN Stock Performance

The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.98 billion, a PE ratio of 17.57 and a beta of 1.38. The firm has a 50 day moving average price of $84.52 and a 200-day moving average price of $89.65.

ASGN (NYSE:ASGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $1.28 EPS for the quarter, beating 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%. Research analysts expect that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On ASGN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASGN. Pinebridge Investments L.P. boosted its stake in shares of ASGN by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider's stock worth $1,832,000 after buying an additional 6,576 shares during the last quarter. Cibc World Markets Corp purchased a new stake in ASGN in the 4th quarter worth approximately $337,000. Entropy Technologies LP purchased a new stake in ASGN in the 4th quarter worth approximately $299,000. Argent Capital Management LLC grew its stake 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 worth $1,158,000 after purchasing an additional 3,339 shares during the period. Finally, Cim Investment Management Inc. purchased a new position in shares of ASGN during the 3rd quarter valued at approximately $205,000. 95.36% of the stock is 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.