Parsons (NYSE:PSN) Given Buy Rating at Benchmark

Parsons (NYSE:PSN)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They currently have a $90.00 price objective on the stock. Benchmark’s price objective would indicate a potential upside of 47.09% from the stock’s current price.

A number of other research analysts have also issued reports on the company. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Robert W. Baird dropped their target price on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. KeyCorp reduced their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. TD Cowen downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, February 21st. Finally, The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Performance

PSN opened at $61.19 on Wednesday. The business has a 50 day moving average price of $84.40 and a two-hundred day moving average price of $94.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 80.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. Parsons has a 1-year low of $57.22 and a 1-year high of $114.68.

Institutional Trading of Parsons

Hedge funds have recently modified their holdings of the company. Creative Planning increased its holdings in Parsons by 15.0% in the 3rd quarter. Creative Planning now owns 8,490 shares of the company’s stock valued at $880,000 after buying an additional 1,109 shares during the period. Allworth Financial LP raised its holdings in shares of Parsons by 43.6% in the 3rd quarter. Allworth Financial LP now owns 6,585 shares of the company’s stock worth $683,000 after buying an additional 1,999 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Parsons in the 3rd quarter valued at $1,337,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Parsons by 63.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,707 shares of the company’s stock worth $592,000 after purchasing an additional 2,209 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Parsons in the third quarter valued at about $72,000. Institutional investors own 98.02% of the company’s stock.

About Parsons

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.