ASGN (NYSE:ASGN) Reaches New 12-Month Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyASGN Incorporated (NYSE:ASGN – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $66.69 and last traded at $67.27, with a volume of 37692 shares. The stock had previously closed at $67.42.
Analyst Ratings Changes
A number of research firms have commented on ASGN. BMO Capital Markets raised shares of ASGN from a “market perform” rating to an “outperform” rating and upped their target price for the company from $96.00 to $100.00 in a research report on Friday, November 22nd. StockNews.com cut 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $101.75.
Read Our Latest Stock Analysis on ASGN
ASGN Stock Up 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 business’s 50 day moving average is $84.12 and its 200-day moving average is $89.57. The company has a market cap of $3.11 billion, a PE ratio of 18.30 and a beta of 1.38.
ASGN (NYSE:ASGN – Get Free Report) last issued its quarterly earnings data 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 net margin of 4.27% and a return on equity of 13.22%. 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 modified their holdings of the stock. Pinebridge Investments L.P. raised 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 buying an additional 6,576 shares during the last quarter. Cibc World Markets Corp acquired a new stake in ASGN in the fourth quarter valued at about $337,000. J.Safra Asset Management Corp lifted its position in ASGN by 48.1% in the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Entropy Technologies LP purchased a new position in shares of ASGN during the 4th quarter worth approximately $299,000. Finally, Argent Capital Management LLC lifted its holdings in shares of 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. 95.36% of the stock is owned by institutional investors and hedge funds.
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.