ASGN (NYSE:ASGN) Reaches New 1-Year Low - What's Next?

ASGN Incorporated (NYSE:ASGN - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $66.69 and last traded at $67.27, with a volume of 37692 shares changing hands. The stock had previously closed at $67.42.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ASGN. BMO Capital Markets raised ASGN from a "market perform" rating to an "outperform" rating and upped their price target for the company from $96.00 to $100.00 in a research note on Friday, November 22nd. StockNews.com lowered ASGN from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, ASGN has an average rating of "Hold" and an average target price of $101.75.

ASGN Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 17.66 and a beta of 1.38. The firm has a 50 day moving average price of $83.51 and a 200-day moving average price of $89.30.

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

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Institutional Investors Weigh In On ASGN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. Pinebridge Investments L.P. increased its holdings in ASGN by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider's stock valued at $1,832,000 after purchasing an additional 6,576 shares during the last quarter. Cibc World Markets Corp bought a new stake in ASGN in the fourth quarter valued at about $337,000. Entropy Technologies LP bought a new stake in ASGN in the fourth quarter valued at about $299,000. Argent Capital Management LLC increased its holdings in shares of ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after acquiring an additional 3,339 shares in the last quarter. Finally, Cim Investment Management Inc. bought a new stake in shares of ASGN in the third quarter worth about $205,000. Institutional investors 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.