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Parsons (NYSE:PSN) Lowered to "Market Perform" Rating by Raymond James

Parsons logo with Business Services background

Raymond James cut shares of Parsons (NYSE:PSN - Free Report) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat Ratings reports.

PSN has been the topic of several other research reports. Robert W. Baird boosted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. The Goldman Sachs Group raised shares of Parsons from a "neutral" rating to a "buy" rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. TD Cowen raised Parsons to a "strong-buy" rating in a report on Thursday, December 19th. Finally, KeyCorp increased their target price on Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $108.88.

View Our Latest Analysis on Parsons

Parsons Stock Performance

Shares of PSN traded down $1.74 during trading hours on Thursday, reaching $90.51. 1,233,268 shares of the company traded hands, compared to its average volume of 894,348. Parsons has a 1-year low of $61.35 and a 1-year high of $114.68. The stock has a market cap of $9.61 billion, a P/E ratio of 137.14, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The stock's fifty day moving average is $99.56 and its 200 day moving average is $94.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

Parsons (NYSE:PSN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Equities research analysts anticipate that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in shares of Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after buying an additional 183,117 shares in the last quarter. Retirement Systems of Alabama bought a new stake in Parsons during the 3rd quarter worth about $5,884,000. Franklin Resources Inc. increased its position in Parsons by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company's stock valued at $64,813,000 after acquiring an additional 63,657 shares in the last quarter. Tidal Investments LLC raised its stake in shares of 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 acquiring an additional 4,220 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of Parsons by 42.2% during the third quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company's stock worth $157,000 after purchasing an additional 449 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Parsons (NYSE:PSN)

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