Jefferies Financial Group Cuts Parsons (NYSE:PSN) Price Target to $100.00

Parsons (NYSE:PSN) had its target price reduced by investment analysts at Jefferies Financial Group from $110.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 19.47% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp lowered their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.33.

Parsons Stock Performance

PSN traded down $1.62 during midday trading on Friday, hitting $83.71. 2,200,422 shares of the company traded hands, compared to its average volume of 1,227,461. The firm has a market capitalization of $8.89 billion, a PE ratio of 126.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company’s 50-day moving average is $94.81 and its 200 day moving average is $95.91. Parsons has a 52 week low of $64.33 and a 52 week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, research analysts expect that Parsons will post 3.02 EPS for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently modified their holdings of PSN. ORG Wealth Partners LLC bought a new position in Parsons in the 4th quarter worth about $26,000. GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the period. True Wealth Design LLC bought a new position in Parsons in the third quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in Parsons during the 3rd quarter worth $33,000. Finally, R Squared Ltd bought a new position in shares of Parsons during the 4th quarter worth $38,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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.