Parsons (NYSE:PSN) Price Target Lowered to $100.00 at Jefferies Financial Group

Parsons (NYSE:PSN) had its price target decreased by Jefferies Financial Group from $110.00 to $100.00 in a research note released on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen reduced their target price on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. William Blair downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.33.

Parsons Stock Down 1.9 %

PSN opened at $83.71 on Friday. The firm has a market cap of $8.89 billion, a P/E ratio of 126.83, a PEG ratio of 1.42 and a beta of 0.74. The business’s fifty day simple moving average is $94.81 and its 200 day simple moving average is $95.91. Parsons has a 52 week low of $64.33 and a 52 week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, equities research analysts anticipate that Parsons will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Parsons

A number of hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new stake in Parsons in the 4th quarter valued at $26,000. GAMMA Investing LLC grew its stake in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares in the last quarter. True Wealth Design LLC acquired a new position in Parsons during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in Parsons in the 3rd quarter worth approximately $33,000. Finally, R Squared Ltd acquired a new stake in Parsons in the fourth quarter valued at approximately $38,000. 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.