Parsons (NYSE:PSN) Reaches New 12-Month Low – Time to Sell?

Shares of Parsons Co. (NYSE:PSN) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $72.25 and last traded at $72.82, with a volume of 225126 shares traded. The stock had previously closed at $73.40.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. William Blair lowered Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. TD Cowen cut their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Trading Down 0.5 %

The stock has a market capitalization of $7.75 billion, a PE ratio of 110.57, a P/E/G ratio of 1.17 and a beta of 0.73. The company’s 50 day moving average price is $89.37 and its two-hundred day moving average price is $95.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Hedge Funds Weigh In On Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its stake in Parsons by 2.5% in the fourth quarter. Voya Investment Management LLC now owns 400,289 shares of the company’s stock valued at $36,927,000 after buying an additional 9,587 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Parsons by 5.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company’s stock worth $98,631,000 after purchasing an additional 52,522 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Parsons by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,790 shares of the company’s stock valued at $2,564,000 after purchasing an additional 1,265 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Parsons during the fourth quarter worth approximately $376,000. Finally, Stifel Financial Corp boosted its holdings in shares of Parsons by 2.7% in the 4th quarter. Stifel Financial Corp now owns 25,478 shares of the company’s stock valued at $2,350,000 after buying an additional 662 shares in the last quarter. 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.