ASGN (NYSE:ASGN) Reaches New 52-Week Low – Here’s Why

ASGN Incorporated (NYSE:ASGN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $84.06 and last traded at $85.21, with a volume of 29597 shares traded. The stock had previously closed at $85.74.

Wall Street Analyst Weigh In

ASGN has been the topic of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research note on Thursday, October 24th. Jefferies Financial Group dropped their price objective on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. Finally, BMO Capital Markets upped their target price on shares of ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.44.

ASGN Stock Performance

The company’s fifty day moving average price is $94.02 and its two-hundred day moving average price is $93.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market capitalization of $3.76 billion, a PE ratio of 21.68 and a beta of 1.40.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. ASGN had a net margin of 4.37% and a return on equity of 13.65%. ASGN’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 earnings per share. As a group, equities analysts expect that ASGN Incorporated will post 5.17 earnings per share for the current year.

Insider Buying and Selling

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the sale, the director now directly owns 10,821 shares in the company, valued at $978,759.45. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carol Lindstrom sold 1,060 shares of ASGN stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $93.02, for a total value of $98,601.20. Following the completion of the transaction, the director now directly owns 4,579 shares in the company, valued at $425,938.58. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,763 shares of company stock valued at $1,398,986. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ASGN

Institutional investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new position in shares of ASGN during the 1st quarter valued at $154,000. Crossmark Global Holdings Inc. lifted its stake in shares of ASGN by 17.3% during the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after purchasing an additional 800 shares in the last quarter. Argent Capital Management LLC lifted its stake in shares of ASGN by 43.8% during the second quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after purchasing an additional 2,868 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of ASGN by 28.2% in the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after buying an additional 2,600 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after buying an additional 18,868 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.