Parsons (NYSE:PSN) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Parsons (NYSE:PSN) from a buy rating to a hold rating in a research report report published on Friday morning, Marketbeat Ratings reports. TD Cowen currently has $105.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial cut their price objective on shares of 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 cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Parsons has an average rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Price Performance

Shares of NYSE:PSN opened at $59.45 on Friday. Parsons has a 12 month low of $57.86 and a 12 month high of $114.68. The company has a 50 day moving average of $85.91 and a 200 day moving average of $95.24. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.35 billion, a P/E ratio of 78.22, a P/E/G ratio of 0.93 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Parsons during the third quarter valued at approximately $2,172,000. Oppenheimer & Co. Inc. increased its position in shares of 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 purchasing an additional 6,577 shares in the last quarter. Aigen Investment Management LP acquired a new position in Parsons in the 3rd quarter valued at $1,004,000. Geode Capital Management LLC lifted its holdings in Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after purchasing an additional 95,040 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in Parsons during the 4th quarter worth $1,449,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.