Parsons (NYSE:PSN) Hits New 1-Year Low – Should You Sell?

Parsons Co. (NYSE:PSN) shares reached a new 52-week low on Friday . The company 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSN. KeyCorp decreased their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. The Goldman Sachs Group raised 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 note on Thursday, December 12th. Robert W. Baird boosted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, William Blair cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Parsons has an average rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Price Performance

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 stock’s 50-day moving average is $88.88 and its two-hundred day moving average is $96.04. The stock has a market cap of $7.79 billion, a PE ratio of 111.16, a PEG ratio of 1.17 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its holdings in Parsons by 2,752.2% during the 3rd quarter. CWM LLC now owns 5,134 shares of the company’s stock valued at $532,000 after acquiring an additional 4,954 shares during the period. Creative Planning boosted its stake in shares of Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company’s stock valued at $880,000 after purchasing an additional 1,109 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Parsons in the third quarter valued at approximately $33,000. Stratos Wealth Advisors LLC purchased a new stake in Parsons during the 3rd quarter worth approximately $344,000. Finally, Net Worth Advisory Group purchased a new position in Parsons in the 3rd quarter valued at approximately $214,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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.