The Goldman Sachs Group Cuts Parsons (NYSE:PSN) Price Target to $98.00

Parsons (NYSE:PSN) had its price objective reduced by The Goldman Sachs Group from $109.00 to $98.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on PSN. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Friday, February 21st. Jefferies Financial Group dropped their price objective on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Truist Financial reduced their target price 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. Finally, KeyCorp dropped their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and an average target price of $99.44.

Parsons Trading Down 0.4 %

NYSE:PSN opened at $58.86 on Tuesday. The company has a market cap of $6.28 billion, a PE ratio of 77.45, a P/E/G ratio of 0.93 and a beta of 0.73. The business’s 50 day moving average is $82.96 and its two-hundred day moving average is $94.33. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons has a 52 week low of $57.22 and a 52 week high of $114.68.

Hedge Funds Weigh In On Parsons

Several hedge funds have recently modified their holdings of PSN. CIBC Private Wealth Group LLC bought a new position in Parsons during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parsons in the 4th quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in Parsons in the 4th quarter valued at about $26,000. True Wealth Design LLC bought a new position in shares of Parsons during the 3rd quarter valued at about $30,000. Finally, Huntington National Bank grew its stake in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after purchasing an additional 289 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.