Parsons (NYSE:PSN) Given New $102.00 Price Target at KeyCorp

Parsons (NYSE:PSN) had its target price decreased by stock analysts at KeyCorp from $122.00 to $102.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 11.56% from the stock’s previous close.

PSN has been the subject of a number of other reports. TD Cowen lowered their price target on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Truist Financial lowered their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Parsons Trading Up 1.0 %

Shares of NYSE:PSN traded up $0.89 during trading on Wednesday, hitting $91.43. 422,996 shares of the company’s stock were exchanged, compared to its average volume of 858,342. The firm has a 50-day moving average price of $98.77 and a two-hundred day moving average price of $95.05. Parsons has a 1-year low of $62.13 and a 1-year high of $114.68. The firm has a market cap of $9.71 billion, a P/E ratio of 138.53, a PEG ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

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

Hedge Funds Weigh In On Parsons

A number of large investors have recently bought and sold shares of PSN. Fisher Asset Management LLC lifted its position in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc lifted its position in Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after buying an additional 96 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in Parsons by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after buying an additional 117 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after buying an additional 150 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds 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.