Parsons (NYSE:PSN) Upgraded to Outperform at William Blair

Parsons (NYSE:PSN - Get Free Report) was upgraded by William Blair from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

PSN has been the subject of a number of other reports. TD Cowen lowered their target price on Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised Parsons from a "neutral" rating to a "buy" rating and upped their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Jefferies Financial Group lowered their target price on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, Truist Financial lowered their target price on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.11.

Parsons Trading Down 4.0 %

PSN stock traded down $2.51 during mid-day trading on Tuesday, reaching $59.45. The company's stock had a trading volume of 2,972,912 shares, compared to its average volume of 1,593,497. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 78.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73. The business's 50 day moving average price is $86.65 and its 200 day moving average price is $95.41. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 12 month low of $57.86 and a 12 month high of $114.68.

Institutional Investors Weigh In On Parsons

A number of institutional investors and hedge funds have recently bought and sold shares of PSN. Artisan Partners Limited Partnership raised its position in Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock valued at $190,932,000 after buying an additional 1,512,812 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Parsons in the 4th quarter valued at $63,417,000. Norges Bank purchased a new stake in Parsons in the 4th quarter valued at $59,447,000. State Street Corp raised its position in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock valued at $169,429,000 after buying an additional 616,707 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in Parsons in the 4th quarter valued at $40,318,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

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.