Parsons (NYSE:PSN) Upgraded at TD Cowen

TD Cowen upgraded shares of Parsons (NYSE:PSN) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. TD Cowen currently has $75.00 price target on the stock, down from their prior price target of $90.00.

PSN has been the subject of several other research reports. KeyCorp reduced their target price on shares of Parsons from $93.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, December 8th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Raymond James Financial cut Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Parsons has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Parsons Stock Down 4.0%

PSN stock opened at $63.27 on Wednesday. Parsons has a 1-year low of $54.56 and a 1-year high of $99.04. The business’s 50 day simple moving average is $81.83 and its 200 day simple moving average is $77.55. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.74 billion, a PE ratio of 29.02, a PEG ratio of 3.41 and a beta of 0.65.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that Parsons will post 3.58 EPS for the current year.

Institutional Trading of Parsons

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Parsons by 10.6% in the third quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock valued at $117,000 after acquiring an additional 135 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Parsons by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock valued at $1,412,000 after purchasing an additional 144 shares in the last quarter. Thomas Story & Son LLC boosted its stake in shares of Parsons by 5.7% in the 3rd quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock valued at $252,000 after purchasing an additional 165 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Parsons by 63.9% during the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Finally, Roanoke Asset Management Corp NY increased its position in Parsons by 0.5% during the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock worth $2,305,000 after purchasing an additional 200 shares in the last quarter. 98.02% of the stock is currently owned by 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.