Parsons (NYSE:PSN) Given New $78.00 Price Target at Robert W. Baird

Parsons (NYSE:PSN - Get Free Report) had its price objective cut by research analysts at Robert W. Baird from $125.00 to $78.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's target price points to a potential upside of 31.21% from the company's previous close.

Several other analysts have also issued reports on PSN. TD Cowen lowered their target price on Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday. Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Finally, KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.11.

Parsons Stock Performance

Parsons stock traded down $2.51 during mid-day trading on Thursday, reaching $59.45. 2,972,912 shares of the company's stock were exchanged, compared to its average volume of 1,593,497. The business's fifty day simple moving average is $86.65 and its 200 day simple moving average is $95.41. The firm has a market capitalization of $6.31 billion, a PE ratio of 78.22, a P/E/G ratio of 0.98 and a beta of 0.73. Parsons has a one year low of $57.86 and a one year high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Institutional Trading of Parsons

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parsons during the fourth quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in Parsons during the fourth quarter worth about $26,000. Huntington National Bank grew its position in Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after buying an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares in the last quarter. 98.02% of the stock is currently owned by 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.