ASGN (NYSE:ASGN) Sets New 1-Year Low - Should You Sell?

Shares of ASGN Incorporated (NYSE:ASGN - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $47.62 and last traded at $47.71, with a volume of 92015 shares traded. The stock had previously closed at $48.50.

Analyst Ratings Changes

A number of research firms have recently commented on ASGN. Jefferies Financial Group reissued an "underperform" rating and set a $42.00 target price (down previously from $53.00) on shares of ASGN in a research note on Monday, July 7th. UBS Group lowered their price target on shares of ASGN from $56.00 to $54.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company initiated coverage on shares of ASGN in a research report on Tuesday, June 3rd. They set an "equal weight" rating and a $56.00 price target on the stock. Canaccord Genuity Group restated a "hold" rating and set a $55.00 price target (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Finally, Truist Financial lowered their price target on shares of ASGN from $105.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.67.

ASGN Stock Down 2.3%

The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.78 and a beta of 0.97. The firm's fifty day simple moving average is $52.13 and its two-hundred day simple moving average is $64.29.

ASGN (NYSE:ASGN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.03). The firm had revenue of $968.30 million during the quarter, compared to analyst estimates of $971.00 million. ASGN had a net margin of 3.93% and a return on equity of 12.55%. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Sell-side analysts anticipate that ASGN Incorporated will post 5.15 EPS for the current year.

Hedge Funds Weigh In On ASGN

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in ASGN by 662.8% in the 1st quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock valued at $66,000 after purchasing an additional 908 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of ASGN in the 4th quarter worth approximately $337,000. SG Americas Securities LLC acquired a new position in shares of ASGN in the 1st quarter worth approximately $396,000. Entropy Technologies LP lifted its holdings in shares of ASGN by 105.5% in the 1st quarter. Entropy Technologies LP now owns 7,378 shares of the business services provider's stock worth $465,000 after acquiring an additional 3,788 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of ASGN by 3.1% in the 1st quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider's stock worth $1,013,000 after acquiring an additional 485 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.