Parsons (NYSE:PSN) Price Target Raised to $125.00

Parsons (NYSE:PSN) had its price objective hoisted by Robert W. Baird from $103.00 to $125.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also issued reports on PSN. Truist Financial reissued a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. KeyCorp raised their target price on Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Benchmark boosted their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Stock Performance

Shares of PSN stock opened at $108.69 on Thursday. The company has a market cap of $11.54 billion, a P/E ratio of 164.68, a PEG ratio of 2.33 and a beta of 0.80. The business has a 50 day moving average of $101.84 and a two-hundred day moving average of $88.09. Parsons has a 52 week low of $60.38 and a 52 week high of $112.19. The company has a quick ratio of 1.80, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, analysts anticipate that Parsons will post 2.89 EPS for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Parsons by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares in the last quarter. Earnest Partners LLC lifted its stake in Parsons by 2.4% during the second quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after purchasing an additional 49,891 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after buying an additional 428,662 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Parsons in the third quarter worth approximately $62,514,000. 98.02% of the stock is currently owned by institutional investors.

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.