Parsons (NYSE:PSN) Lowered to Hold Rating by TD Cowen

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

A number of other research analysts have also weighed in on PSN. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price target on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Finally, William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.11.

Parsons Stock Performance

NYSE:PSN opened at $59.45 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $6.31 billion, a PE ratio of 78.22, a P/E/G ratio of 0.98 and a beta of 0.73. The firm has a 50 day simple moving average of $86.65 and a 200-day simple moving average of $95.41. Parsons has a 1-year low of $57.86 and a 1-year high of $114.68.

Institutional Investors Weigh In On Parsons

Several large investors have recently made changes to their positions in PSN. CIBC Private Wealth Group LLC purchased a new stake in Parsons during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parsons in the fourth quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Parsons during the 4th quarter valued at about $26,000. Huntington National Bank lifted its position in Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after acquiring an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings 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 acquiring an additional 218 shares during the period. Institutional investors and hedge funds 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.