ASGN (NYSE:ASGN) Share Price Crosses Below 50-Day Moving Average - Time to Sell?

ASGN Incorporated (NYSE:ASGN - Get Free Report)'s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 Upgrades and Downgrades

Separately, StockNews.com downgraded ASGN from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $101.75.

ASGN Stock Performance

The business's 50-day simple moving average is $77.75 and its two-hundred day simple moving average is $86.30. 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 firm has a market cap of $2.77 billion, a price-to-earnings ratio of 16.57 and a beta of 1.34.

ASGN (NYSE:ASGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $1.28 earnings per share for the quarter, topping 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, sell-side analysts expect that ASGN Incorporated will post 5.15 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On ASGN

Institutional investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp raised its position in ASGN by 48.1% during the fourth 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 during the period. Cim Investment Management Inc. acquired a new position in shares of ASGN during the 3rd quarter worth about $205,000. Entropy Technologies LP acquired a new position in shares of ASGN during the 4th quarter worth about $299,000. Cibc World Markets Corp purchased a new position in ASGN in the 4th quarter valued at about $337,000. Finally, Argent Capital Management LLC boosted its holdings in ASGN by 31.6% in the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after buying an additional 3,339 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

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.