Parsons (NYSE:PSN) Stock Price Down 6% – Time to Sell?

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. William Blair lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lowered their target price on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group upgraded 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 report on Thursday, December 12th. Finally, TD Cowen decreased their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Trading Down 5.4 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 120.96, a PEG ratio of 1.42 and a beta of 0.74. The company’s 50-day moving average is $94.33 and its 200-day moving average is $96.22.

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

Hedge Funds Weigh In On Parsons

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC raised its position in Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after acquiring an additional 96 shares during the last quarter. Chartwell Investment Partners LLC raised its position in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after buying an additional 117 shares during the period. GAMMA Investing LLC grew its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Parsons by 10.7% in the 3rd quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after purchasing an additional 265 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

About Parsons

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.