Parsons (NYSE:PSN) Sets New 1-Year Low – Time to Sell?

Parsons Corporation (NYSE:PSN)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $51.07 and last traded at $51.11, with a volume of 1461618 shares trading hands. The stock had previously closed at $54.18.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays raised their price objective on Parsons from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Thursday, January 15th. Stifel Nicolaus lowered their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and dropped their price target for the company from $90.00 to $75.00 in a research report on Wednesday, December 10th. Finally, Robert W. Baird reduced their price target on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, December 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.42.

Parsons Stock Down 5.7%

The company has a market capitalization of $5.41 billion, a PE ratio of 23.23, a PEG ratio of 1.69 and a beta of 0.68. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $66.07 and a 200 day moving average of $73.53.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities research analysts anticipate that Parsons Corporation will post 3.58 EPS for the current year.

Institutional Investors Weigh In On Parsons

Large investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Parsons during the 3rd quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parsons in the fourth quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Parsons in the third quarter worth $40,000. Danske Bank A S purchased a new stake in shares of Parsons during the fourth quarter worth $31,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Parsons during the fourth quarter worth $32,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

About Parsons

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.