ASGN (NYSE:ASGN) Reaches New 12-Month Low - Here's What Happened

ASGN Incorporated (NYSE:ASGN) shares reached a new 52-week low during trading on Friday, hitting as low as $62.72 before recently trading at $62.94. The trading volume was noted at 71,292 shares, with the stock closing at $64.22 the previous day.

Wall Street Analyst Insights

In a recent report, StockNews.com downgraded ASGN's stock rating from "buy" to "hold" on January 7th. Currently, three equity research analysts have given the stock a hold rating, while two have issued a buy rating. According to MarketBeat.com, ASGN has an average rating of "Hold," with a consensus target price set at $101.75.

ASGN Stock Overview

The company's market capitalization stands at $2.74 billion, and it has a price-to-earnings ratio of 16.38 along with a beta of 1.34. Additionally, ASGN holds a current ratio and quick ratio of 2.25, and its debt-to-equity ratio is 0.58. The stock currently has a 50-day simple moving average of $75.81 and a 200-day simple moving average of $85.58.

ASGN recently announced its quarterly earnings on February 5th, where it reported earnings per share (EPS) of $1.28, which surpassed the consensus estimate of $1.21 by $0.07. The company achieved a net margin of 4.27% and a return on equity of 13.22%. Analysts forecast that ASGN will post an EPS of 5.15 for the current fiscal year.

Investor Activity in ASGN

Several large investors have recently adjusted their positions regarding ASGN. J.Safra Asset Management Corp increased its shares in the fourth quarter by 48.1%, now owning 428 shares worth $36,000 after acquiring an additional 139 shares; meanwhile, Cim Investment Management Inc. acquired new shares in ASGN valued at approximately $205,000 during the third quarter. Other significant investments include Entropy Technologies LP and Cibc World Markets Corp, with total stakes indicating that 95.36% of ASGN shares are held by institutional investors.

About ASGN Incorporated

ASGN Incorporated specializes in providing information technology (IT) services and solutions across the technology, digital, and creative sectors for both commercial and governmental clients in the United States, Canada, and Europe. The company's operations are divided into two main segments: Commercial and Federal Government, where the Commercial Segment focuses on consulting, creative digital marketing, and permanent placement services aimed primarily at enterprise clients.

Additional Insights

Investors considering adding ASGN to their portfolio should carefully evaluate this information. While ASGN has garnered a Moderate Buy rating among analysts, there are alternative stocks identified by top-rated analysts that may be more advantageous investments at this time.

ASGN, Stocks, Finance