Parsons (NYSE:PSN) Price Target Lowered to $78.00 at Robert W. Baird

Parsons (NYSE:PSN) had its price objective cut by analysts at Robert W. Baird from $125.00 to $78.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 24.83% from the company’s current price.

A number of other equities research analysts have also recently weighed in on PSN. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. TD Cowen decreased their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Finally, KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.11.

Parsons Stock Performance

Shares of NYSE:PSN opened at $62.49 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 95.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. The firm has a 50 day moving average of $87.96 and a 200 day moving average of $95.86. Parsons has a 52 week low of $61.71 and a 52 week high of $114.68.

Institutional Investors Weigh In On Parsons

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock worth $422,093,000 after acquiring an additional 59,545 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Parsons by 271.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock worth $190,932,000 after purchasing an additional 1,512,812 shares during the period. Invesco Ltd. boosted its position in Parsons by 14.2% in the fourth quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock valued at $189,702,000 after buying an additional 255,810 shares during the last quarter. State Street Corp boosted its position in Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after buying an additional 183,117 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.