Parsons (NYSE:PSN - Free Report) had its price target trimmed by KeyCorp from $122.00 to $102.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.
Several other analysts have also commented on the stock. TD Cowen decreased their price target on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday. Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Robert W. Baird raised their price target on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Truist Financial decreased their price objective on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group raised shares of Parsons from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Parsons currently has an average rating of "Moderate Buy" and a consensus price target of $108.25.
Check Out Our Latest Research Report on Parsons
Parsons Stock Up 1.3 %
Shares of PSN traded up $1.15 during mid-day trading on Wednesday, hitting $91.69. The company's stock had a trading volume of 893,493 shares, compared to its average volume of 963,479. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company's 50-day moving average is $98.41 and its 200-day moving average is $95.02. Parsons has a 52-week low of $62.13 and a 52-week high of $114.68. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 138.93, a PEG ratio of 1.72 and a beta of 0.74.
Parsons (NYSE:PSN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts forecast that Parsons will post 3.02 EPS for the current fiscal year.
Institutional Trading of Parsons
Several institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank raised its holdings in shares of Parsons by 48.8% during the fourth quarter. First Hawaiian Bank now owns 39,523 shares of the company's stock worth $3,646,000 after purchasing an additional 12,964 shares during the last quarter. GAMMA Investing LLC raised its stake 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 buying an additional 218 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after buying an additional 183,117 shares during the period. Retirement Systems of Alabama purchased a new stake in shares of Parsons in the third quarter worth about $5,884,000. Finally, Franklin Resources Inc. grew its holdings in Parsons by 11.8% during the third quarter. Franklin Resources Inc. now owns 601,071 shares of the company's stock worth $64,813,000 after acquiring an additional 63,657 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.
About Parsons
(
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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.
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