Parsons (NYSE:PSN) Price Target Increased to $101.00 by Analysts at Benchmark

Parsons (NYSE:PSN) had its target price boosted by Benchmark from $68.00 to $101.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Parsons from $95.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Truist Financial reaffirmed a buy rating and issued a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research note on Thursday. KeyCorp boosted their target price on shares of Parsons from $90.00 to $97.00 and gave the stock an overweight rating in a research report on Thursday. Raymond James raised shares of Parsons from an outperform rating to a strong-buy rating and boosted their target price for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Finally, TD Cowen raised shares of Parsons from a hold rating to a buy rating and boosted their target price for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Parsons has an average rating of Buy and a consensus price target of $91.70.

Parsons Trading Down 0.1 %

NYSE PSN traded down $0.12 on Thursday, hitting $88.41. 433,496 shares of the stock were exchanged, compared to its average volume of 890,303. The company’s 50-day moving average price is $78.47 and its two-hundred day moving average price is $77.16. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 485.80, a P/E/G ratio of 2.71 and a beta of 0.81. Parsons has a 52-week low of $53.42 and a 52-week high of $91.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.37 billion. Parsons had a net margin of 0.89% and a return on equity of 12.13%. Research analysts predict that Parsons will post 2.61 EPS for the current year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSN. Wolverine Asset Management LLC bought a new stake in Parsons during the second quarter worth about $3,600,000. Versor Investments LP acquired a new position in shares of Parsons during the second quarter worth approximately $360,000. Verus Capital Partners LLC acquired a new position in shares of Parsons during the second quarter worth approximately $564,000. Lisanti Capital Growth LLC lifted its position in shares of Parsons by 19.3% during the second quarter. Lisanti Capital Growth LLC now owns 55,930 shares of the company’s stock worth $4,576,000 after purchasing an additional 9,065 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Parsons by 98.3% during the second quarter. Van ECK Associates Corp now owns 285,800 shares of the company’s stock worth $23,381,000 after purchasing an additional 141,673 shares in the last quarter. Institutional investors 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.