ASGN (NYSE:ASGN) Share Price Passes Below 50-Day Moving Average – What’s Next?

ASGN Incorporated (NYSE:ASGN)’s stock price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $78.65 and traded as low as $67.30. ASGN shares last traded at $68.01, with a volume of 324,820 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on ASGN. StockNews.com cut ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $96.00 to $100.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.75.

ASGN Trading Down 1.3 %

The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 16.57 and a beta of 1.34. 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 business has a 50-day moving average of $78.20 and a 200-day moving average of $86.57.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. ASGN had a return on equity of 13.22% and a net margin of 4.27%. As a group, research analysts forecast that ASGN Incorporated will post 5.15 EPS for the current year.

Institutional Trading of ASGN

Large investors have recently made changes to their positions in the company. J.Safra Asset Management Corp boosted its position in shares of ASGN by 48.1% in the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 139 shares during the period. Cim Investment Management Inc. purchased a new stake in ASGN during the 3rd quarter valued at approximately $205,000. Entropy Technologies LP purchased a new stake in ASGN during the 4th quarter valued at approximately $299,000. Cibc World Markets Corp purchased a new stake in ASGN during the 4th quarter valued at approximately $337,000. Finally, Argent Capital Management LLC raised its stake in ASGN by 31.6% during the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock valued at $1,158,000 after acquiring an additional 3,339 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

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.