Parsons (NYSE:PSN – Get Free Report) had its target price lifted by equities researchers at Robert W. Baird from $85.00 to $89.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 15.14% from the company’s previous close.
Several other analysts have also commented on the company. KeyCorp increased their price objective on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial boosted their price objective on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Raymond James upgraded shares of Parsons from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $82.00 to $95.00 in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $82.33.
Parsons Stock Down 0.4 %
Shares of PSN stock traded down $0.33 during trading on Thursday, reaching $77.30. The company’s stock had a trading volume of 1,254,385 shares, compared to its average volume of 892,001. The business has a fifty day moving average price of $80.96 and a 200-day moving average price of $69.61. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 3.49 and a beta of 0.86. Parsons has a one year low of $42.79 and a one year high of $85.44.
Parsons (NYSE:PSN – Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. Analysts anticipate that Parsons will post 2.57 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Parsons by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after acquiring an additional 29,225 shares during the period. Quadrature Capital Ltd bought a new stake in Parsons during the 3rd quarter worth approximately $1,117,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Parsons during the third quarter worth about $984,000. Van ECK Associates Corp grew its holdings in shares of Parsons by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after acquiring an additional 8,724 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Parsons by 189.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock valued at $1,199,000 after purchasing an additional 14,456 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.
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.