Robert W. Baird Increases Parsons (NYSE:PSN) Price Target to $89.00

Parsons (NYSE:PSN) had its target price raised by Robert W. Baird from $85.00 to $89.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial boosted their price target on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 9th. Raymond James raised Parsons from an outperform rating to a strong-buy rating and boosted their price target for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. KeyCorp boosted their price target on Parsons from $89.00 to $90.00 and gave the stock an overweight rating in a report on Friday, April 19th. The Goldman Sachs Group upped their target price on Parsons from $73.00 to $81.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Finally, Benchmark reaffirmed a buy rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $83.10.

Parsons Price Performance

Shares of NYSE PSN opened at $78.47 on Thursday. 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 has a fifty-two week low of $42.79 and a fifty-two week high of $85.44. The stock has a market capitalization of $8.30 billion, a PE ratio of 435.97, a P/E/G ratio of 2.92 and a beta of 0.86. The business has a fifty day moving average price of $80.90 and a two-hundred day moving average price of $69.97.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. Parsons’s revenue was up 36.4% on a year-over-year basis. As a group, equities analysts predict that Parsons will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

A number of institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons during the 3rd quarter valued at about $38,000. TFO Wealth Partners LLC boosted its position in shares of Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Parsons during the 1st quarter valued at about $62,000. Psagot Value Holdings Ltd. Israel boosted its position in shares of Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after purchasing an additional 973 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Parsons during the 4th quarter valued at about $91,000. 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.