Robert W. Baird Issues Positive Forecast for Parsons (NYSE:PSN) Stock Price

Parsons (NYSE:PSN) had its price target boosted by equities researchers at Robert W. Baird from $103.00 to $125.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 13.64% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Benchmark raised their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $108.00 price target (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. KeyCorp increased their price objective on shares of Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Parsons has an average rating of “Moderate Buy” and an average target price of $101.44.

Parsons Stock Up 4.7 %

Parsons stock opened at $110.00 on Thursday. Parsons has a fifty-two week low of $56.04 and a fifty-two week high of $112.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of 611.11, a PEG ratio of 2.24 and a beta of 0.80. The company’s 50 day simple moving average is $101.29 and its 200 day simple moving average is $87.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, sell-side analysts anticipate that Parsons will post 2.89 EPS for the current year.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Parsons during the 3rd quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC bought a new stake in Parsons during the second quarter worth $44,000. DekaBank Deutsche Girozentrale acquired a new stake in Parsons in the third quarter valued at $72,000. Blue Trust Inc. increased its stake in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the last quarter. 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.