Parsons (NYSE:PSN) Rating Lowered to Market Perform at William Blair

Parsons (NYSE:PSN) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a report released on Thursday, MarketBeat reports.

Several other equities research analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. KeyCorp dropped their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen dropped their price objective on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird raised their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Parsons Trading Down 1.8 %

PSN opened at $94.75 on Thursday. The firm’s fifty day moving average is $95.45 and its two-hundred day moving average is $96.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $10.06 billion, a PE ratio of 143.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74. Parsons has a twelve month low of $64.33 and a twelve month high of $114.68.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Equities research analysts anticipate that Parsons will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of Parsons in the 4th quarter valued at about $26,000. True Wealth Design LLC bought a new position in shares of Parsons in the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its position in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Parsons during the 3rd quarter worth about $33,000. Finally, R Squared Ltd acquired a new stake in shares of Parsons during the 4th quarter worth about $38,000. Institutional investors own 98.02% of the company’s stock.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.