Parsons (NYSE:PSN) Price Target Increased to $103.00 by Analysts at Robert W. Baird

Parsons (NYSE:PSN) had its target price hoisted by Robert W. Baird from $89.00 to $103.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on PSN. KeyCorp increased their price target on Parsons from $89.00 to $90.00 and gave the company an overweight rating in a report on Friday, April 19th. The Goldman Sachs Group boosted their target price on Parsons from $73.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Raymond James upgraded Parsons from an outperform rating to a strong-buy rating and upped their target price for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. Truist Financial boosted their price target on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus increased their price target on shares of Parsons from $95.00 to $97.00 and gave the company a buy rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Parsons presently has a consensus rating of Buy and a consensus target price of $91.70.

Parsons Stock Down 0.1 %

PSN stock traded down $0.12 during midday trading on Thursday, hitting $88.41. The company’s stock had a trading volume of 433,496 shares, compared to its average volume of 890,303. The company has a market cap of $12.97 billion, a PE ratio of 485.80, a P/E/G ratio of 2.71 and a beta of 0.81. 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 has a 12 month low of $53.42 and a 12 month high of $91.44. The firm’s 50-day moving average is $78.47 and its 200-day moving average is $77.16.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Parsons had a return on equity of 12.13% and a net margin of 0.89%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities research analysts forecast that Parsons will post 2.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parsons

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC purchased a new stake in Parsons in the second quarter valued at approximately $44,000. TFO Wealth Partners LLC lifted its position in Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Parsons in the first quarter valued at $62,000. Blue Trust Inc. grew its position in Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. Finally, Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Parsons by 700.0% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.