Parsons (NYSE:PSN) Stock Bumped Down to “Hold” by Wall Street Zen

Wall Street Zen cut shares of Parsons (NYSE:PSN) from a buy rating to a hold rating in a research note published on Sunday,Wall Street Zen reports.

PSN has been the subject of several other reports. William Blair restated an “outperform” rating on shares of Parsons in a research report on Wednesday, July 29th. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. UBS Group boosted their target price on Parsons from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Barclays lowered their target price on Parsons from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Parsons in a report on Wednesday, October 28th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Parsons Stock Down 0.1%

NYSE PSN opened at $48.84 on Friday. The business has a fifty day moving average price of $45.93 and a two-hundred day moving average price of $53.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.59 and a quick ratio of 1.59. Parsons has a fifty-two week low of $36.26 and a fifty-two week high of $88.00. The stock has a market capitalization of $5.15 billion, a PE ratio of 35.65, a PEG ratio of 3.92 and a beta of 0.69.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 28th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. Parsons had a return on equity of 8.11% and a net margin of 2.33%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Parsons will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of Parsons by 183.6% during the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after acquiring an additional 358 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new position in shares of Parsons during the third quarter worth $31,000. GAMMA Investing LLC lifted its holdings in shares of Parsons by 160.0% during the second quarter. GAMMA Investing LLC now owns 949 shares of the company’s stock worth $50,000 after purchasing an additional 584 shares during the period. Danske Bank A S acquired a new position in shares of Parsons during the second quarter worth $58,000. Finally, Continuum Advisory LLC bought a new stake in shares of Parsons in the second quarter worth $59,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

About Parsons

Parsons Corporation is a technology-focused engineering and infrastructure company serving government and commercial clients. Its work includes engineering, construction management, program management, and technical services for complex projects and missions.

The company operates through its Federal Solutions and Critical Infrastructure businesses. Federal Solutions provides services in areas such as defense, intelligence, cybersecurity, space, and missile defense. Critical Infrastructure supports projects involving transportation, water, environmental remediation, and other essential infrastructure.

Founded in 1944 by engineer Ralph M.