Parsons (NYSE:PSN) Given Buy Rating at Benchmark

Parsons (NYSE:PSN)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $90.00 price objective on the stock. Benchmark’s target price would suggest a potential upside of 47.09% from the stock’s previous close.

Several other research firms have also recently commented on PSN. The Goldman Sachs Group lowered their target price on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group cut their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Robert W. Baird dropped their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.44.

Parsons Price Performance

PSN stock opened at $61.19 on Wednesday. The firm has a market cap of $6.53 billion, a P/E ratio of 80.24, a PEG ratio of 0.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The stock’s 50 day moving average price is $84.40 and its 200 day moving average price is $94.83. Parsons has a 1 year low of $57.22 and a 1 year high of $114.68.

Institutional Trading of Parsons

Several large investors have recently added to or reduced their stakes in PSN. CIBC Private Wealth Group LLC purchased a new stake in shares of Parsons during the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parsons during the 4th quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in Parsons in the fourth quarter valued at about $26,000. Huntington National Bank increased its holdings in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.