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

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

Several other brokerages have also recently weighed in on PSN. TD Cowen dropped their price objective on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lifted their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Finally, Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Stock Performance

NYSE PSN opened at $94.75 on Thursday. The firm has a 50-day moving average of $95.45 and a 200-day moving average of $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 stock has a market cap of $10.06 billion, a PE ratio of 143.56, a P/E/G ratio of 1.44 and a beta of 0.74. Parsons has a 52-week low of $64.33 and a 52-week high of $114.68.

Parsons (NYSE:PSN) last issued its quarterly earnings data 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. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, sell-side analysts anticipate that Parsons will post 3.02 EPS for the current year.

Hedge Funds Weigh In On Parsons

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BOCHK Asset Management Ltd bought a new stake in Parsons in the fourth quarter valued at approximately $8,799,000. Robeco Institutional Asset Management B.V. increased its position in Parsons by 94.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,575 shares of the company’s stock valued at $1,437,000 after purchasing an additional 7,557 shares during the period. R Squared Ltd acquired a new stake in Parsons during the 4th quarter valued at approximately $38,000. Canal Insurance CO acquired a new stake in Parsons during the 4th quarter valued at approximately $554,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Parsons during the 4th quarter valued at approximately $231,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Company Profile

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.