Jefferies Financial Group Has Lowered Expectations for Parsons (NYSE:PSN) Stock Price

Parsons (NYSE:PSN) had its price objective dropped by Jefferies Financial Group from $110.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 19.47% from the company’s current price.

Several other equities analysts have also issued reports on PSN. TD Cowen dropped their price target on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. William Blair downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. 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 report on Thursday, October 31st. Finally, KeyCorp reduced their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.33.

Parsons Price Performance

Parsons stock traded down $1.62 during midday trading on Friday, hitting $83.71. The company’s stock had a trading volume of 2,200,422 shares, compared to its average volume of 1,227,461. Parsons has a 12 month low of $64.33 and a 12 month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.89 billion, a PE ratio of 126.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The stock’s 50-day moving average price is $94.81 and its 200-day moving average price is $95.91.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Analysts anticipate that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

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