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

TD Cowen upgraded shares of Parsons (NYSE:PSN) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

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

Parsons Trading Up 0.2 %

PSN stock opened at $95.10 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $10.10 billion, a PE ratio of 144.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company’s 50 day moving average price is $102.37 and its two-hundred day moving average price is $93.28. Parsons has a one year low of $61.35 and a one year high of $114.68.

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

Hedge Funds Weigh In On Parsons

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSN. State of New Jersey Common Pension Fund D purchased a new position in shares of Parsons in the 3rd quarter worth $2,172,000. Oppenheimer & Co. Inc. increased its position in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after acquiring an additional 6,577 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Parsons in the third quarter valued at $1,004,000. Peregrine Asset Advisers Inc. bought a new position in shares of Parsons during the second quarter valued at approximately $4,417,000. Finally, State Street Corp raised its holdings in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after buying an additional 616,707 shares during the period. 98.02% of the stock is owned by institutional investors.

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.