Parsons (NYSE:PSN) Price Target Increased to $90.00 by Analysts at KeyCorp

Parsons (NYSE:PSN) had its price target upped by KeyCorp from $89.00 to $90.00 in a research report report published on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Parsons from $73.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday. Robert W. Baird lifted their price objective on Parsons from $75.00 to $85.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Truist Financial boosted their price target on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Finally, Benchmark reissued a buy rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $79.00.

Parsons Stock Down 0.4 %

NYSE PSN opened at $77.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. Parsons has a 1 year low of $42.22 and a 1 year high of $85.44. The business’s 50-day moving average is $80.00 and its 200 day moving average is $68.24. The stock has a market capitalization of $8.20 billion, a PE ratio of 54.56, a PEG ratio of 3.48 and a beta of 0.85.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Sell-side analysts forecast that Parsons will post 2.55 earnings per share for the current year.

Hedge Funds Weigh In On Parsons

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSN. Raymond James & Associates lifted its position in Parsons by 36.5% in the 1st quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock valued at $614,000 after acquiring an additional 4,243 shares in the last quarter. Group One Trading L.P. bought a new position in Parsons in the 1st quarter valued at approximately $27,000. HighTower Advisors LLC bought a new position in Parsons in the 1st quarter valued at approximately $242,000. MetLife Investment Management LLC lifted its position in Parsons by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock valued at $606,000 after acquiring an additional 5,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Parsons by 45.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock valued at $26,827,000 after acquiring an additional 216,326 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

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.