Parsons (NYSE:PSN) Price Target Lowered to $102.00 at KeyCorp

Parsons (NYSE:PSN) had its target price reduced by KeyCorp from $122.00 to $102.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

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

Parsons Stock Up 1.3 %

Shares of Parsons stock opened at $91.69 on Wednesday. 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 1-year low of $62.13 and a 1-year high of $114.68. The business has a 50-day moving average of $98.41 and a 200-day moving average of $95.02. The company has a market capitalization of $9.74 billion, a PE ratio of 138.93, a P/E/G ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts forecast that Parsons will post 3.02 EPS for the current fiscal year.

Institutional Trading of Parsons

Several hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in 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 acquiring an additional 90 shares during the period. CIBC Asset Management Inc lifted its holdings in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after purchasing an additional 96 shares during the period. Chartwell Investment Partners LLC grew its position in Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after buying an additional 117 shares in the last quarter. AE Wealth Management LLC increased its stake in Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after buying an additional 150 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares in the last quarter. 98.02% of the stock is currently 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.