Parsons’ (PSN) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Parsons (NYSE:PSN) in a research report released on Wednesday,Benzinga reports. Benchmark currently has a $90.00 price target on the stock.

Several other equities analysts have also issued reports on PSN. KeyCorp dropped their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group decreased their target price on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, February 21st. Finally, William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.44.

Parsons Trading Down 1.2 %

NYSE PSN opened at $58.23 on Wednesday. The firm’s fifty day moving average price is $82.21 and its 200 day moving average price is $94.09. Parsons has a 12 month low of $56.87 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 76.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PSN. Artisan Partners Limited Partnership grew its position in Parsons by 271.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock valued at $190,932,000 after buying an additional 1,512,812 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Parsons in the 4th quarter worth $63,417,000. Norges Bank purchased a new stake in shares of Parsons in the fourth quarter valued at about $59,447,000. State Street Corp increased its stake in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in Parsons during the fourth quarter worth about $40,318,000. Institutional investors and hedge funds 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.