Parsons (NYSE:PSN) PT Raised to $90.00

Parsons (NYSE:PSN) had its price objective boosted by stock analysts at KeyCorp from $89.00 to $90.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 16.14% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Robert W. Baird boosted their price objective on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group boosted their price objective on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Truist Financial boosted their price objective on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Parsons Stock Performance

Shares of NYSE:PSN opened at $77.49 on Friday. The business’s fifty day moving average price is $80.00 and its two-hundred day moving average price is $68.34. Parsons has a fifty-two week low of $42.22 and a fifty-two week high of $85.44. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 54.57, a price-to-earnings-growth ratio of 3.48 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52.

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

Hedge Funds Weigh In On Parsons

Several large investors have recently made changes to their positions in the company. Group One Trading L.P. acquired a new position in Parsons in the first quarter valued at about $27,000. Comerica Bank acquired a new position in Parsons in the third quarter valued at about $30,000. DekaBank Deutsche Girozentrale acquired a new position in Parsons in the third quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its stake in Parsons by 60.6% in the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after buying an additional 295 shares during the period. Finally, TFO Wealth Partners LLC lifted its stake in Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the period. Institutional investors and hedge funds 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.