ASGN (NYSE:ASGN) Reaches New 1-Year Low – Here’s Why

ASGN Incorporated (NYSE:ASGN) shares reached a new 52-week low during trading on Monday . The stock traded as low as $82.04 and last traded at $82.20, with a volume of 31477 shares trading hands. The stock had previously closed at $83.69.

Analysts Set New Price Targets

ASGN has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 target price on shares of ASGN in a report on Thursday, October 24th. BMO Capital Markets upgraded ASGN from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, ASGN currently has an average rating of “Hold” and an average price target of $97.83.

ASGN Stock Down 0.8 %

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 firm has a 50-day moving average of $90.31 and a 200 day moving average of $91.74. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.01 and a beta of 1.37.

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

Insider Transactions at ASGN

In related news, Director Carol Lindstrom sold 1,060 shares of ASGN stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $93.02, for a total transaction of $98,601.20. Following the completion of the sale, the director now directly owns 4,579 shares of the company’s stock, valued at approximately $425,938.58. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Randolph C. Blazer sold 10,000 shares of ASGN stock in a transaction on Friday, October 25th. The stock was sold at an average price of $95.03, for a total value of $950,300.00. Following the sale, the president now directly owns 85,923 shares of the company’s stock, valued at $8,165,262.69. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,260 shares of company stock worth $1,168,469. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cim Investment Management Inc. bought a new position in ASGN in the third quarter valued at approximately $205,000. Crossmark Global Holdings Inc. increased its stake in shares of ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after purchasing an additional 800 shares during the last quarter. Argent Capital Management LLC raised its holdings in shares of ASGN by 12.1% during the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after buying an additional 1,142 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of ASGN by 7.2% during the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after buying an additional 39,607 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in ASGN by 28.2% in the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

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.