Parsons (NYSE:PSN) Reaches New 52-Week Low - Should You Sell?

Parsons Co. (NYSE:PSN - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $56.87 and last traded at $58.84, with a volume of 92337 shares trading hands. The stock had previously closed at $58.94.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSN shares. 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 research report on Wednesday, January 8th. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Benchmark reissued a "buy" rating and issued a $90.00 price objective on shares of Parsons in a research report on Wednesday, February 26th. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Friday, February 21st. Finally, Jefferies Financial Group dropped their price objective on shares of Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.44.

Parsons Trading Up 3.9 %

The firm has a market capitalization of $6.14 billion, a P/E ratio of 75.65, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. The business's 50-day moving average is $80.72 and its 200 day moving average is $93.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55.

Remove Ads

Institutional Investors Weigh In On Parsons

Large investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new stake in Parsons during the third quarter worth about $2,172,000. Oppenheimer & Co. Inc. grew its stake in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company's stock worth $2,490,000 after buying an additional 6,577 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Parsons during the fourth quarter worth about $577,000. Aigen Investment Management LP acquired a new stake in Parsons during the third quarter worth about $1,004,000. Finally, Geode Capital Management LLC grew its stake in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock worth $80,146,000 after buying an additional 95,040 shares in the last quarter. 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.