Parsons (NYSE:PSN) Downgraded to “Market Perform” Rating by Raymond James

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

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird boosted their price target 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. KeyCorp raised their price objective on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. TD Cowen upgraded Parsons to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $108.88.

Parsons Trading Up 2.0 %

Shares of PSN stock opened at $92.30 on Thursday. 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 fifty day simple moving average of $99.32 and a two-hundred day simple moving average of $94.63. The firm has a market capitalization of $9.80 billion, a PE ratio of 139.85, a PEG ratio of 1.72 and a beta of 0.74. Parsons has a 52-week low of $61.40 and a 52-week high of $114.68.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, analysts predict that Parsons will post 3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Parsons by 224.7% during the fourth 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 last quarter. Principal Financial Group Inc. boosted its stake in shares of Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after purchasing an additional 183,117 shares during the period. Retirement Systems of Alabama bought a new position in Parsons during the 3rd quarter valued at about $5,884,000. Franklin Resources Inc. raised its position in Parsons by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock worth $64,813,000 after purchasing an additional 63,657 shares during the period. Finally, Tidal Investments LLC lifted its stake in Parsons by 140.9% in the third quarter. Tidal Investments LLC now owns 7,214 shares of the company’s stock worth $748,000 after purchasing an additional 4,220 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

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.