Parsons (NYSE:PSN) Given New $105.00 Price Target at TD Cowen

Parsons (NYSE:PSN - Free Report) had its price objective decreased by TD Cowen from $117.00 to $105.00 in a report released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

PSN has been the subject of several other research reports. KeyCorp increased their target price on Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Raymond James downgraded shares of Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. 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. Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Finally, Robert W. Baird boosted their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.25.

Parsons Stock Performance

Parsons stock traded up $1.15 during trading hours on Wednesday, reaching $91.69. 893,493 shares of the company were exchanged, compared to its average volume of 963,479. Parsons has a 12 month low of $62.13 and a 12 month high of $114.68. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 138.93, a PEG ratio of 1.72 and a beta of 0.74. 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 stock has a 50-day moving average of $98.77 and a 200 day moving average of $95.05.

Parsons (NYSE:PSN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, research analysts anticipate that Parsons will post 3.02 earnings per share for the current year.

Institutional Investors Weigh In On Parsons

A number of institutional investors have recently added to or reduced their stakes in PSN. Fisher Asset Management LLC lifted its position in shares of Parsons by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock worth $452,000 after buying an additional 90 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after purchasing an additional 96 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock worth $1,507,000 after purchasing an additional 117 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company's stock worth $471,000 after purchasing an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 218 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

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.