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

ASGN Incorporated (NYSE:ASGN) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $59.04 and traded as low as $55.79. ASGN shares last traded at $56.31, with a volume of 322,466 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group restated a “hold” rating and set a $55.00 price target (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Truist Financial lowered their target price on ASGN from $105.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group cut their price target on shares of ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.40.

ASGN Stock Down 0.6%

The firm has a market cap of $2.47 billion, a PE ratio of 14.66 and a beta of 1.08. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $59.04 and a two-hundred day moving average price of $75.55.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, April 23rd. The business services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.03). The company had revenue of $968.30 million for the quarter, compared to analyst estimates of $971.00 million. ASGN had a return on equity of 13.22% and a net margin of 4.27%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, equities research analysts expect that ASGN Incorporated will post 5.15 EPS for the current year.

Institutional Trading of ASGN

A number of large investors have recently made changes to their positions in the company. Entropy Technologies LP acquired a new position in ASGN during the 4th quarter worth approximately $299,000. Cibc World Markets Corp acquired a new stake in shares of ASGN in the 4th quarter valued at $337,000. Pinebridge Investments L.P. lifted its position in shares of ASGN by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 6,576 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of ASGN by 3.1% during the first quarter. Russell Investments Group Ltd. now owns 16,074 shares of the business services provider’s stock worth $1,013,000 after purchasing an additional 485 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of ASGN by 662.8% during the first quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider’s stock worth $66,000 after purchasing an additional 908 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.