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

Parsons Co. (NYSE:PSN) shares traded down 6% during trading on Tuesday . The stock traded as low as $80.14 and last traded at $79.33. 661,881 shares were traded 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 Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. TD Cowen reduced their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. William Blair downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp dropped their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Parsons has a consensus rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $93.74 and its 200-day moving average price is $96.12. The company has a market cap of $8.35 billion, a P/E ratio of 119.16, a P/E/G ratio of 1.42 and a beta of 0.74.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, research analysts forecast that Parsons Co. will post 3.02 EPS for the current fiscal year.

Institutional Trading of Parsons

A number of large investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in shares of Parsons in the fourth quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in Parsons in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its position in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Parsons in the third quarter worth $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Parsons during the fourth quarter worth $33,000. 98.02% of the stock is currently owned by institutional investors.

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.