Parsons (NYSE:PSN) Sets New 1-Year Low – Time to Sell?

Parsons Co. (NYSE:PSN)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $56.87 and last traded at $58.84, with a volume of 92337 shares. The stock had previously closed at $58.94.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Robert W. Baird reduced their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Parsons in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.44.

Parsons Stock Down 1.2 %

The firm has a fifty day moving average price of $82.96 and a 200 day moving average price of $94.33. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 76.61, a PEG ratio of 0.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29.

Institutional Trading of Parsons

Large investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership grew its holdings in Parsons by 271.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock valued at $190,932,000 after purchasing an additional 1,512,812 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Parsons in the fourth quarter valued at about $63,417,000. Norges Bank purchased a new stake in shares of Parsons during the fourth quarter valued at approximately $59,447,000. State Street Corp lifted its holdings in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after buying an additional 616,707 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Parsons in the fourth quarter valued at about $40,318,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.