Stifel Nicolaus Has Lowered Expectations for Parsons (NYSE:PSN) Stock Price

Parsons (NYSE:PSN) had its price objective lowered by stock analysts at Stifel Nicolaus from $94.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 43.22% from the stock’s current price.

PSN has been the subject of several other reports. Truist Financial reduced their price target on Parsons from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 5th. KeyCorp decreased their price target on shares of Parsons from $93.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, December 8th. UBS Group assumed coverage on shares of Parsons in a report on Wednesday, November 19th. They issued a “buy” rating and a $107.00 target price for the company. Jefferies Financial Group cut their price target on Parsons from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.46.

Parsons Trading Up 0.2%

Shares of PSN opened at $62.84 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.67 and a quick ratio of 1.67. The firm’s 50 day simple moving average is $77.78 and its 200 day simple moving average is $77.33. Parsons has a 1-year low of $54.56 and a 1-year high of $97.91. The company has a market capitalization of $6.69 billion, a P/E ratio of 28.83, a P/E/G ratio of 3.25 and a beta of 0.65.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a return on equity of 11.98% and a net margin of 3.69%.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 prior year, the business earned $0.95 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that Parsons will post 3.58 earnings per share for the current fiscal year.

Institutional Trading of Parsons

Several hedge funds have recently bought and sold shares of PSN. Mather Group LLC. bought a new position in Parsons during the 3rd quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Parsons during the third quarter valued at approximately $40,000. True Wealth Design LLC grew its stake in shares of Parsons by 63.9% during the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after buying an additional 189 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Parsons in the first quarter worth approximately $34,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Parsons in the third quarter worth approximately $59,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.