Parsons (NYSE:PSN) PT Raised to $39.00 at The Goldman Sachs Group

Parsons (NYSE:PSNGet Rating) had its price objective boosted by The Goldman Sachs Group from $35.00 to $39.00 in a report released on Thursday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on the stock. William Blair lowered shares of Parsons from an outperform rating to a market perform rating in a report on Wednesday, December 15th. Bank of America upgraded shares of Parsons from an underperform rating to a neutral rating and set a $39.00 target price on the stock in a report on Friday, March 11th. Stifel Nicolaus initiated coverage on shares of Parsons in a report on Thursday, March 17th. They issued a buy rating on the stock. Zacks Investment Research upgraded shares of Parsons from a sell rating to a hold rating in a report on Friday, March 4th. Finally, Raymond James initiated coverage on shares of Parsons in a report on Friday, March 4th. They issued an outperform rating and a $43.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Parsons has a consensus rating of Hold and an average target price of $45.80.

Parsons stock opened at $39.68 on Thursday. Parsons has a 52 week low of $29.25 and a 52 week high of $45.01. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $36.06 and its 200 day simple moving average is $34.66. The firm has a market capitalization of $4.06 billion, a PE ratio of 67.25, a P/E/G ratio of 3.88 and a beta of 1.00.

Parsons (NYSE:PSNGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Parsons had a net margin of 1.75% and a return on equity of 8.29%. The business had revenue of $950.67 million for the quarter, compared to analyst estimates of $944.19 million. During the same period in the previous year, the firm earned $0.46 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts expect that Parsons will post 1.7 EPS for the current fiscal year.

In other Parsons news, CFO George L. Ball bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was purchased at an average price of $33.40 per share, with a total value of $1,336,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in Parsons by 1.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 31,181 shares of the company’s stock valued at $1,049,000 after acquiring an additional 403 shares in the last quarter. Voya Investment Management LLC grew its position in Parsons by 4.9% in the third quarter. Voya Investment Management LLC now owns 9,511 shares of the company’s stock valued at $321,000 after acquiring an additional 445 shares in the last quarter. California State Teachers Retirement System grew its position in Parsons by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 35,865 shares of the company’s stock valued at $1,207,000 after acquiring an additional 466 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Parsons by 6.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 12,900 shares of the company’s stock valued at $436,000 after acquiring an additional 755 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Parsons by 7.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 18,600 shares of the company’s stock valued at $628,000 after buying an additional 1,319 shares during the last quarter.

About Parsons (Get Rating)

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.

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