Parsons (NYSE:PSN) Reaches New 12-Month Low - Should You Sell?

Parsons Co. (NYSE:PSN - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $61.71 and last traded at $65.01, with a volume of 5201421 shares trading hands. The stock had previously closed at $73.50.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSN shares. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group raised Parsons from a "neutral" rating to a "buy" rating and boosted their price target for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group cut their price target on shares of Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Parsons presently has a consensus rating of "Moderate Buy" and an average target price of $102.11.

Parsons Price Performance

The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 78.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50-day simple moving average of $86.65 and a two-hundred day simple moving average of $95.41.

Institutional Trading of Parsons

Several hedge funds have recently bought and sold shares of PSN. Vanguard Group Inc. increased its stake in shares of Parsons by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after purchasing an additional 59,545 shares during the period. Artisan Partners Limited Partnership increased its position in Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock valued at $190,932,000 after acquiring an additional 1,512,812 shares during the period. Invesco Ltd. raised its stake in Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock valued at $189,702,000 after acquiring an additional 255,810 shares in the last quarter. State Street Corp boosted its position in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after acquiring an additional 616,707 shares during the period. Finally, Principal Financial Group Inc. boosted its position in 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 acquiring an additional 183,117 shares during the period. 98.02% of the stock is currently owned by institutional investors.

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.