Parsons (NYSE:PSN) Price Target Increased to $97.00 by Analysts at KeyCorp

Parsons (NYSE:PSN) had its price objective increased by KeyCorp from $90.00 to $97.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on PSN. Raymond James upgraded Parsons from an outperform rating to a strong-buy rating and boosted their price objective for the company from $82.00 to $95.00 in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Parsons from $73.00 to $81.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Robert W. Baird boosted their price objective on Parsons from $89.00 to $103.00 and gave the company an outperform rating in a report on Thursday. Stifel Nicolaus upped their price target on Parsons from $95.00 to $97.00 and gave the stock a buy rating in a report on Tuesday, June 25th. Finally, Benchmark restated a buy rating and set a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Parsons presently has a consensus rating of Buy and a consensus target price of $91.70.

Parsons Trading Down 0.1 %

Shares of Parsons stock traded down $0.12 during trading hours on Thursday, hitting $88.41. The company’s stock had a trading volume of 433,496 shares, compared to its average volume of 890,303. Parsons has a twelve month low of $53.42 and a twelve month high of $91.44. The firm has a fifty day moving average of $78.47 and a 200-day moving average of $77.16. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 485.80, a P/E/G ratio of 2.71 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Parsons had a return on equity of 12.13% and a net margin of 0.89%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion. Research analysts forecast that Parsons will post 2.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC increased its holdings in shares of Parsons by 3.7% in the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after acquiring an additional 174 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after purchasing an additional 196 shares during the period. Blue Trust Inc. boosted its position in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the period. Jennison Associates LLC boosted its position in shares of Parsons by 1.6% in the 4th quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock valued at $950,000 after purchasing an additional 239 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 purchasing an additional 311 shares during the period. Hedge funds and other 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.