ASGN (NYSE:ASGN) Stock Passes Below 50 Day Moving Average - What's Next?

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $57.07 and traded as low as $52.43. ASGN shares last traded at $52.85, with a volume of 265,305 shares.

Wall Street Analysts Forecast Growth

ASGN has been the subject of several analyst reports. UBS Group dropped their price objective on shares of ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. Truist Financial dropped their price objective on shares of ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $55.00 price objective (down previously from $115.00) on shares of ASGN in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, ASGN presently has an average rating of "Hold" and an average price target of $74.40.

ASGN Stock Up 0.2%

The company has 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 moving average is $56.84 and its 200-day moving average is $73.02. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 13.79 and a beta of 1.08.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp grew its stake 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 worth $36,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of ASGN by 662.8% in the 1st quarter. GAMMA Investing LLC now owns 1,045 shares of the business services provider's stock worth $66,000 after acquiring an additional 908 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of ASGN in the 4th quarter worth $299,000. Cibc World Markets Corp bought a new stake in shares of ASGN in the 4th quarter worth $337,000. Finally, SG Americas Securities LLC bought a new stake in shares of ASGN in the 1st quarter worth $396,000. 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.