Parsons (NYSE:PSN) Upgraded to “Strong-Buy” at TD Cowen

Parsons (NYSE:PSN) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the company. KeyCorp raised their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Truist Financial dropped their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Robert W. Baird upped their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $108.88.

Parsons Stock Performance

NYSE:PSN opened at $95.10 on Thursday. The company has a market cap of $10.10 billion, a P/E ratio of 144.09, a P/E/G ratio of 1.72 and a beta of 0.74. Parsons has a twelve month low of $61.35 and a twelve month high of $114.68. The company’s 50-day moving average price is $102.37 and its 200-day moving average price is $93.28. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. On average, sell-side analysts forecast that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Parsons in the third quarter valued at $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new stake in Parsons during the third quarter worth about $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons during the third quarter worth about $72,000. Finally, Optimum Investment Advisors acquired a new stake in shares of Parsons during the third quarter worth about $145,000. Hedge funds and other institutional investors 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.