ASGN (NYSE:ASGN) Hits New 52-Week Low - Time to Sell?

Key Points

• ASGN shares reached a new 52-week low at $46.63, indicating a decline from the previous closing price of $47.36, with a trading volume of 71,149 shares.
• Wall Street analysts have downgraded ASGN's stock, with brokerage firms like Wells Fargo and UBS lowering their price targets, and the overall consensus rating is now a "Hold."
• The company reported better-than-expected earnings of $1.17 per share for the last quarter, beating estimates, but experienced a 1.4% drop in revenue compared to the previous year.

ASGN Incorporated (NYSE:ASGN - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $46.63 and last traded at $46.58, with a volume of 71149 shares trading hands. The stock had previously closed at $47.36.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ASGN. Wall Street Zen lowered shares of ASGN from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Wells Fargo & Company cut their target price on shares of ASGN from $56.00 to $51.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Zacks Research upgraded shares of ASGN from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. UBS Group lowered their price target on ASGN from $49.00 to $47.00 and set a "sell" rating for the company in a research report on Thursday, July 24th. Finally, Jefferies Financial Group reiterated an "underperform" rating and issued a $42.00 price target (down previously from $53.00) on shares of ASGN in a report on Monday, July 7th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $61.67.

ASGN Price Performance

The stock has a market capitalization of $2.06 billion, a PE ratio of 14.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.11 and a current ratio of 2.11. The stock's 50 day moving average is $51.47 and its two-hundred day moving average is $53.89.

ASGN (NYSE:ASGN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.09. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $994.64 million. ASGN had a return on equity of 11.90% and a net margin of 3.50%.The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. ASGN has set its Q3 2025 guidance at 1.180-1.260 EPS. On average, equities analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

Hedge Funds Weigh In On ASGN

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in ASGN by 47,970.1% in the 1st quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider's stock valued at $41,500,000 after buying an additional 65,719 shares during the last quarter. Reinhart Partners LLC. raised its stake in shares of ASGN by 13.4% during the 1st quarter. Reinhart Partners LLC. now owns 665,987 shares of the business services provider's stock worth $41,971,000 after buying an additional 78,794 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of ASGN during the 1st quarter worth $396,000. Entropy Technologies LP raised its stake in ASGN by 105.5% in the 1st quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider's stock valued at $465,000 after purchasing an additional 3,788 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in ASGN by 3.1% in the 1st quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider's stock valued at $1,013,000 after purchasing an additional 485 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.

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