Parsons (NYSE:PSN) Stock Price Down 6% - Should You Sell?

Parsons Co. (NYSE:PSN - Get Free Report) shares were down 6% on Tuesday . The stock traded as low as $80.14 and last traded at $79.33. Approximately 661,881 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,204,475 shares. The stock had previously closed at $84.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Raymond James lowered shares of Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Truist Financial lowered 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. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $103.00 to $111.00 in a report on Thursday, December 12th. TD Cowen lowered their target price on Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, KeyCorp dropped their target price 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.33.

Parsons Stock Performance

The stock's 50-day moving average price is $92.93 and its 200 day moving average price is $96.25. The firm has a market cap of $8.21 billion, a P/E ratio of 117.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Hedge Funds Weigh In On Parsons

A number of large investors have recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new stake in Parsons in the fourth quarter valued at $26,000. GAMMA Investing LLC raised its holdings 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 purchasing an additional 218 shares during the period. True Wealth Design LLC acquired a new stake in Parsons in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in Parsons during the third quarter worth about $33,000. Finally, Principal Securities Inc. acquired a new position in Parsons during the fourth quarter worth approximately $33,000. 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.