Parsons (NYSE:PSN) Price Target Raised to $125.00 at Robert W. Baird

Parsons (NYSE:PSN) had its price objective hoisted by Robert W. Baird from $103.00 to $125.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also issued reports on PSN. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research note on Wednesday, October 23rd. KeyCorp boosted their price objective on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and set a $108.00 price objective (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Stock Up 0.3 %

Shares of NYSE PSN traded up $0.33 during mid-day trading on Thursday, reaching $108.49. The company had a trading volume of 82,250 shares, compared to its average volume of 889,842. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $11.52 billion, a PE ratio of 163.88, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. Parsons has a twelve month low of $60.38 and a twelve month high of $112.19. The stock’s 50 day moving average is $101.55 and its 200-day moving average is $87.82.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.88% and a net margin of 1.21%. As a group, equities analysts anticipate that Parsons will post 2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

A number of institutional investors have recently modified their holdings of PSN. AE Wealth Management LLC increased its stake in Parsons by 2.7% in the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after purchasing an additional 150 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares in the last quarter. Blue Trust Inc. boosted its stake in Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares in the last quarter. Certified Advisory Corp raised its stake in shares of Parsons by 6.2% during the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock worth $388,000 after buying an additional 278 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Parsons by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock valued at $1,161,000 after buying an additional 311 shares during the period. 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.