TD Cowen Downgrades Parsons (NYSE:PSN) to Hold

TD Cowen downgraded shares of Parsons (NYSE:PSN) from a buy rating to a hold rating in a research report report published on Friday morning, MarketBeat reports. TD Cowen currently has $105.00 price target on the stock.

A number of other research firms also recently weighed in on PSN. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Robert W. Baird reduced their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Trading Down 4.0 %

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

Institutional Trading of Parsons

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