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

ASGN Incorporated (NYSE:ASGN) saw its shares drop to a new 52-week low during trading on Friday, reaching a low of $62.72 before finishing at $62.94. During the day, a total of 71,292 shares changed hands, compared to the previous closing price of $64.22.

Wall Street Analyst Insights

In recent analyst news, StockNews.com adjusted ASGN's rating from 'buy' to 'hold' in a report published on January 7th. Currently, three research analysts have assigned a hold rating to ASGN shares, while two analysts recommend buying the stock. MarketBeat.com indicates that the average rating for the company is 'Hold', with a consensus target price set at $101.75.

Check Our Latest Stock Report on ASGN

ASGN Stock Performance

The company's market capitalization stands at $2.74 billion, with a price-to-earnings ratio of 16.38 and a beta value of 1.34. Financial ratios indicate a current ratio of 2.25, a quick ratio of 2.25, and a debt-to-equity ratio of 0.58. The stock's 50-day simple moving average is $75.81, while the 200-day simple moving average sits at $85.58.

On February 5th, ASGN reported its latest quarterly earnings, revealing an earnings per share (EPS) of $1.28, surpassing analysts' estimates of $1.21 by $0.07. The company achieved a net margin of 4.27% and a return on equity of 13.22%. Analysts predict that ASGN Incorporated will have an EPS of 5.15 for the current fiscal year.

Institutional Investors Activity

A number of large institutional investors have been active in buying and selling shares of ASGN recently. For example, J.Safra Asset Management Corp increased its holdings in ASGN by 48.1% during the fourth quarter, now owning 428 shares after purchasing an additional 139 shares. Other investors, including Cim Investment Management Inc, Entropy Technologies LP, Cibc World Markets Corp, and Argent Capital Management LLC, have also added positions in ASGN, bringing institutional ownership to 95.36%.

About ASGN Incorporated

ASGN Incorporated specializes in delivering information technology (IT) services and solutions across various sectors such as technology, digital, and creative services. Its clientele ranges from commercial to government sectors, with operations primarily in the United States, Canada, and Europe. The company's business is divided into two segments: Commercial, which focuses on consulting and digital marketing services, and Federal Government.

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