Figma Shares Indicated To Open $105/$110
Parsons Corporation (PSN) stock has reached its 52-week low, trading at $72.49. This price level reflects a notable dip for the defense, intelligence, and critical infrastructure services provider, which boasts a market capitalization of $7.7 billion. InvestingPro analysis indicates the stock is in oversold territory, with analyst price targets ranging from $100 to $130. Over the past year, Parsons Corp (NYSE:PSN) has experienced a slight decline, with a 1-year change showing a decrease of 2.07%. The company has demonstrated strong fundamentals with impressive revenue growth of 29% and maintains a healthy current ratio of 1.55. InvestingPro subscribers have access to 12 additional exclusive insights about PSN, including detailed analysis of the company's financial health, which is currently rated as "Good."
In other recent news, Parsons Corporation has acquired environmental remediation specialist, TRS Group, in a strategic move to enhance its environmental remediation capabilities. The $36 million cash deal is expected to bolster Parsons' Federal Solutions and Critical Infrastructure segments. On the analyst front, Jefferies analyst Sheila Kahyaoglu adjusted the price target for Parsons shares, decreasing it to $100 from $110, while maintaining a Buy rating. This revision is due to anticipated challenges in sustaining the robust organic growth rate Parsons experienced in recent years. However, the company will not be missing $550 million or 8% of its sales due to the absence of a Department of State Humanitarian contract, which is secure for the foreseeable future. Meanwhile, analysts at William Blair downgraded Parsons' stock rating to Market Perform due to concerns over a key U.S. State Department contract. The contract, which involves classified humanitarian aid, is currently approaching its renewal phase and represents about 10% of Parsons' total revenue. These are recent developments and reflect the ongoing changes in Parsons' operations and financial outlook.
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