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

ASGN Incorporated (NYSE:ASGN) shares hit 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 changing hands. The stock had previously closed at $85.74.

Analysts Set New Price Targets

ASGN has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 price target on shares of ASGN in a research report 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 note on Monday, September 9th. Finally, BMO Capital Markets lifted their target price on ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.44.

ASGN Trading Down 0.9 %

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 company’s 50-day moving average price is $94.02 and its 200-day moving average price is $93.60. 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 released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ASGN had a return on equity of 13.65% and a net margin of 4.37%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. On average, sell-side analysts expect that ASGN Incorporated will post 5.17 earnings per share for the current year.

Insider Transactions at ASGN

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

Institutional Investors Weigh In On ASGN

A number of hedge funds have recently added to or reduced their stakes in ASGN. Crossmark Global Holdings Inc. lifted its holdings 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 buying an additional 800 shares during the period. Argent Capital Management LLC grew its position in ASGN by 12.1% during the third 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 during the period. Reinhart Partners LLC. increased its holdings in ASGN by 7.2% in the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after buying an additional 39,607 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of ASGN by 1,851.6% during the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 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.