ASGN (NYSE:ASGN) Hits New 1-Year Low - Here's What Happened

ASGN Incorporated (NYSE:ASGN - Get Free Report) shares hit a new 52-week low during mid-day 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ASGN shares. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $42.00 target price (down previously from $53.00) on shares of ASGN in a report on Monday, July 7th. Truist Financial decreased their price target on ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. UBS Group decreased their price target on ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company assumed coverage on ASGN in a research note on Tuesday, June 3rd. They issued an "equal weight" rating and a $56.00 price target for the company. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $55.00 price target (down previously from $115.00) on shares of ASGN in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.67.

ASGN Stock Up 2.0%

The firm has a 50 day moving average of $52.41 and a 200 day moving average of $64.76. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 13.68 and a beta of 0.97. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.72.

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

Institutional Investors Weigh In On ASGN

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in ASGN by 662.8% in the first quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock worth $66,000 after acquiring an additional 908 shares in the last quarter. Cibc World Markets Corp bought a new position in ASGN in the fourth quarter worth approximately $337,000. SG Americas Securities LLC bought a new position in ASGN in the first quarter worth approximately $396,000. Entropy Technologies LP boosted its holdings in ASGN by 105.5% in the first 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in ASGN by 3.1% in the first 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 in the last quarter. 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.