Stifel Nicolaus Boosts Parsons (NYSE:PSN) Price Target to $97.00

Parsons (NYSE:PSN) had its price objective boosted by Stifel Nicolaus from $95.00 to $97.00 in a research report report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on PSN. Raymond James raised shares of Parsons from an outperform rating to a strong-buy rating and upped their target price for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. Benchmark reissued a buy rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. KeyCorp boosted their price target on Parsons from $89.00 to $90.00 and gave the company an overweight rating in a research note on Friday, April 19th. Truist Financial increased their price objective on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, Robert W. Baird lifted their price objective on Parsons from $85.00 to $89.00 and gave the company an outperform rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Parsons presently has an average rating of Buy and a consensus price target of $85.50.

Parsons Price Performance

Shares of PSN stock opened at $81.97 on Tuesday. Parsons has a 12 month low of $46.85 and a 12 month high of $85.44. The company has a market capitalization of $12.03 billion, a P/E ratio of 455.41, a P/E/G ratio of 2.38 and a beta of 0.84. The stock has a 50 day moving average of $77.60 and a two-hundred day moving average of $74.23. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities analysts expect that Parsons will post 2.64 EPS for the current year.

Hedge Funds Weigh In On Parsons

A number of institutional investors have recently modified their holdings of PSN. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the third quarter valued at approximately $38,000. TFO Wealth Partners LLC increased its stake in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Parsons during the first quarter worth $62,000. Psagot Value Holdings Ltd. Israel lifted its stake in shares of Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after acquiring an additional 973 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Parsons in the fourth quarter valued at about $91,000. 98.02% of the stock is owned by institutional investors.

About Parsons

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.