Parsons (NYSE:PSN) Price Target Raised to $81.00

Parsons (NYSE:PSN) had its price target raised by The Goldman Sachs Group from $73.00 to $81.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on PSN. KeyCorp boosted their price objective on shares of Parsons from $74.00 to $79.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Truist Financial upped their price target on shares of Parsons from $84.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Benchmark restated a buy rating and set a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. Finally, Robert W. Baird increased their target price on shares of Parsons from $75.00 to $85.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $77.78.

Parsons Trading Down 1.0 %

PSN opened at $77.80 on Tuesday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 54.79, a P/E/G ratio of 3.54 and a beta of 0.85. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44. The firm’s fifty day simple moving average is $79.81 and its 200 day simple moving average is $68.08. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. As a group, research analysts anticipate that Parsons will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Parsons

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank bought a new position in Parsons in the 3rd quarter valued at approximately $30,000. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons during the third quarter valued at $38,000. Group One Trading L.P. bought a new position in shares of Parsons during the first quarter valued at $27,000. TFO Wealth Partners LLC raised its stake in shares of Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after acquiring an additional 728 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Parsons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after acquiring an additional 295 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

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.