ASGN (NYSE:ASGN) Stock Passes Above 50 Day Moving Average of $91.56

ASGN Incorporated (NYSE:ASGN)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $91.56 and traded as high as $96.75. ASGN shares last traded at $96.13, with a volume of 271,576 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $97.22.

ASGN Trading Up 3.4 %

The stock has a market capitalization of $4.41 billion, a P/E ratio of 22.25, a PEG ratio of 13.69 and a beta of 1.40. The stock’s fifty day moving average price is $91.56 and its 200 day moving average price is $95.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.51 and a quick ratio of 2.51.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $1.59 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts forecast that ASGN Incorporated will post 5.18 earnings per share for the current year.

Institutional Investors Weigh In On ASGN

Institutional investors and hedge funds have recently bought and sold shares of the company. Argent Capital Management LLC increased its position in ASGN by 8.9% during the 4th quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock valued at $569,000 after purchasing an additional 484 shares during the period. Reinhart Partners LLC. boosted its stake in shares of ASGN by 0.9% during the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock valued at $57,440,000 after purchasing an additional 4,931 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of ASGN during the first quarter valued at approximately $512,000. LRI Investments LLC purchased a new position in ASGN during the first quarter valued at approximately $154,000. Finally, SG Americas Securities LLC raised its stake in ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after buying an additional 18,868 shares in the last quarter. 95.36% of the stock is owned by 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.