Parsons (NYSE:PSN) Given New $102.00 Price Target at KeyCorp

Parsons (NYSE:PSN) had its target price decreased by KeyCorp from $122.00 to $102.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research firms have also recently commented on PSN. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $111.00 in a report on Thursday, December 12th. TD Cowen lowered their target price on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lifted their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Parsons Stock Up 1.3 %

PSN stock opened at $91.69 on Wednesday. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 138.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a fifty day moving average price of $98.41 and a 200 day moving average price of $95.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons has a 12 month low of $62.13 and a 12 month high of $114.68.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Sell-side analysts expect 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 the company. Commonwealth Equity Services LLC grew its stake in Parsons by 14.8% during the second quarter. Commonwealth Equity Services LLC now owns 27,013 shares of the company’s stock worth $2,210,000 after buying an additional 3,491 shares during the period. Arizona State Retirement System increased its holdings in Parsons by 15.6% in the 2nd quarter. Arizona State Retirement System now owns 13,331 shares of the company’s stock valued at $1,091,000 after purchasing an additional 1,801 shares in the last quarter. Choreo LLC acquired a new position in shares of Parsons during the second quarter worth about $1,461,000. Qsemble Capital Management LP purchased a new stake in shares of Parsons in the second quarter worth about $518,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Parsons in the second quarter valued at about $235,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.