Parsons (NYSE:PSN) PT Raised to $90.00

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

PSN has been the subject of several other reports. Benchmark restated a buy rating and issued a $68.00 target price on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Parsons from $73.00 to $81.00 and gave the company a neutral rating in a research note on Tuesday. Truist Financial raised their target price on shares of Parsons from $84.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Finally, Robert W. Baird raised their target price on shares of Parsons from $75.00 to $85.00 and gave the company an outperform rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $79.00.

Parsons Stock Performance

Shares of PSN stock opened at $77.47 on Friday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 3.48 and a beta of 0.85. The company’s 50 day moving average is $80.00 and its 200 day moving average is $68.24. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. Parsons has a 52-week low of $42.22 and a 52-week high of $85.44.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in Parsons by 5.8% in the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock valued at $29,147,000 after buying an additional 29,225 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Parsons in the third quarter valued at $1,117,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Parsons in the third quarter valued at $984,000. Van ECK Associates Corp increased its holdings in Parsons by 68.0% in the third quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after buying an additional 8,724 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Parsons by 189.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock worth $1,199,000 after purchasing an additional 14,456 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.