Parsons (NYSE:PSN) Price Target Increased to $89.00 by Analysts at Robert W. Baird

Parsons (NYSE:PSN) had its price target lifted by Robert W. Baird from $85.00 to $89.00 in a report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Truist Financial boosted their price objective on Parsons from $84.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, April 9th. The Goldman Sachs Group increased their target price on shares of Parsons from $73.00 to $81.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Raymond James raised shares of Parsons from an outperform rating to a strong-buy rating and increased their price objective for the stock from $82.00 to $95.00 in a research report on Wednesday. KeyCorp boosted their target price on Parsons from $89.00 to $90.00 and gave the company an overweight rating in a research report on Friday, April 19th. Finally, Benchmark reiterated a buy rating and issued a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Parsons currently has an average rating of Buy and a consensus target price of $83.10.

Parsons Trading Up 1.5 %

PSN stock traded up $1.17 during trading on Thursday, hitting $78.47. The company had a trading volume of 801,569 shares, compared to its average volume of 762,251. The stock has a market cap of $8.30 billion, a PE ratio of 435.94, a PEG ratio of 3.44 and a beta of 0.86. The business has a 50-day moving average of $80.90 and a 200-day moving average of $69.80. The company has a current ratio of 1.79, a quick ratio of 1.52 and a debt-to-equity ratio of 0.56. Parsons has a one year low of $42.79 and a one year high of $85.44.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 36.4% on a year-over-year basis. Research analysts predict that Parsons will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parsons

Institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in Parsons in the third quarter worth about $38,000. TFO Wealth Partners LLC raised its holdings in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Parsons in the first quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel grew its holdings in Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after purchasing an additional 973 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Parsons during the fourth quarter valued at $91,000. 98.02% of the stock is 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.