Parsons (NYSE:PSN) Downgraded by William Blair to Market Perform

William Blair cut shares of Parsons (NYSE:PSN) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, Marketbeat.com reports.

Several other equities research analysts have also recently commented on PSN. KeyCorp lowered their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird raised 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. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial cut their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, TD Cowen decreased their price target on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Parsons has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Stock Performance

Shares of PSN opened at $85.34 on Thursday. 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. The company has a market capitalization of $9.06 billion, a PE ratio of 129.31, a PEG ratio of 1.44 and a beta of 0.74. The company’s 50 day moving average price is $95.10 and its 200 day moving average price is $95.99.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in shares of Parsons in the fourth quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in Parsons in the 3rd quarter worth $30,000. GAMMA Investing LLC grew its position in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Parsons during the third quarter valued at about $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons in the fourth quarter valued at about $38,000. 98.02% of the stock is owned by institutional investors.

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.