Parsons (NYSE:PSN) Sees Unusually-High Trading Volume – Here’s Why

Parsons Co. (NYSE:PSN) shares saw unusually-high trading volume on Thursday . Approximately 773,264 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 815,178 shares.The stock last traded at $86.51 and had previously closed at $94.86.

Analyst Ratings Changes

A number of research analysts have issued reports on PSN shares. TD Cowen decreased their price target on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. William Blair cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Parsons Stock Down 8.6 %

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 firm has a market capitalization of $9.20 billion, a PE ratio of 131.28, a P/E/G ratio of 1.44 and a beta of 0.74. The business’s 50 day moving average price is $95.10 and its 200-day moving average price is $95.99.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts forecast that Parsons Co. will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PSN. ORG Wealth Partners LLC acquired a new position in shares of Parsons during the 4th quarter worth about $26,000. True Wealth Design LLC purchased a new stake in shares of Parsons in the 3rd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Parsons during the third quarter worth approximately $33,000. Finally, R Squared Ltd purchased a new stake in Parsons in the fourth quarter valued at approximately $38,000. Hedge funds and other 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.