Parsons (NYSE:PSN) Price Target Raised to $122.00

Parsons (NYSE:PSN) had its price target hoisted by analysts at KeyCorp from $116.00 to $122.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 12.14% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research note on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and set a $108.00 price objective (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Finally, Benchmark lifted their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Trading Down 1.1 %

NYSE:PSN traded down $1.21 during mid-day trading on Thursday, hitting $108.79. The company had a trading volume of 509,654 shares, compared to its average volume of 891,769. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. Parsons has a fifty-two week low of $56.04 and a fifty-two week high of $112.19. The firm has a market cap of $15.96 billion, a P/E ratio of 604.00, a P/E/G ratio of 2.24 and a beta of 0.80. The business’s fifty day moving average is $101.29 and its two-hundred day moving average is $87.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. As a group, research analysts expect that Parsons will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On Parsons

A number of institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Parsons in the third quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons in the 2nd quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale bought a new position in Parsons in the third quarter valued at approximately $72,000. Blue Trust Inc. boosted its holdings in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds 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.