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

ASGN Incorporated (NYSE:ASGN) hit a new 52-week low during trading on Wednesday . The company traded as low as $55.95 and last traded at $56.74, with a volume of 637077 shares changing hands. The stock had previously closed at $58.68.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.75.

ASGN Stock Down 3.3 %

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 company has a market cap of $2.47 billion, a PE ratio of 14.78 and a beta of 1.20. The business’s 50 day moving average is $70.25 and its 200-day moving average is $83.58.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, topping 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, analysts predict that ASGN Incorporated will post 5.15 EPS for the current year.

Institutional Investors Weigh In On ASGN

Several hedge funds have recently made changes to their positions in ASGN. J.Safra Asset Management Corp raised its stake in ASGN by 48.1% during the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 139 shares during the last quarter. Cim Investment Management Inc. purchased a new stake in shares of ASGN during the third quarter worth approximately $205,000. Entropy Technologies LP acquired a new stake in shares of ASGN during the fourth quarter worth $299,000. Cibc World Markets Corp purchased a new position in ASGN in the 4th quarter valued at $337,000. Finally, Argent Capital Management LLC increased its stake in ASGN by 31.6% in 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 during the period. Institutional investors and hedge funds 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.