Parsons (NYSE:PSN) Stock Rating Lowered by William Blair

Parsons (NYSE:PSN) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Marketbeat.com reports.

PSN has been the topic of several other research reports. Robert W. Baird lifted 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. KeyCorp cut their price target 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. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial dropped their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Stock Down 1.9 %

Shares of Parsons stock opened at $83.71 on Thursday. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 126.83, a P/E/G ratio of 1.42 and a beta of 0.74. The company’s 50 day moving average price is $94.81 and its 200-day moving average price is $95.91. Parsons has a 52-week low of $64.33 and a 52-week high of $114.68. 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) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Equities research analysts forecast that Parsons will post 3.02 EPS for the current year.

Hedge Funds Weigh In On Parsons

Several large investors have recently modified their holdings of the stock. Earnest Partners LLC raised its position in shares of Parsons by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock worth $177,413,000 after purchasing an additional 49,891 shares during the last quarter. State Street Corp raised its position in shares of Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after purchasing an additional 616,707 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after purchasing an additional 183,117 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Parsons by 14.0% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.