Parsons (NYSE:PSN) Given New $110.00 Price Target at Truist Financial

Parsons (NYSE:PSN) had its price objective dropped by stock analysts at Truist Financial from $130.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 10.14% from the company’s previous close.

PSN has been the subject of several other reports. Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Benchmark increased their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. KeyCorp raised their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Stock Up 0.5 %

Parsons stock opened at $99.87 on Friday. 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 $10.61 billion, a PE ratio of 150.53, a PEG ratio of 1.68 and a beta of 0.80. The firm’s fifty day moving average is $104.85 and its 200 day moving average is $90.63. Parsons has a 12-month low of $61.10 and a 12-month high of $114.68.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. As a group, sell-side analysts predict that Parsons will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Parsons

Several institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in Parsons during the third quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in shares of Parsons during the 3rd quarter valued at $33,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Parsons during the 2nd quarter worth $44,000. Capital Performance Advisors LLP purchased a new stake in Parsons in the 3rd quarter worth about $45,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Parsons in the 3rd quarter valued at about $72,000. 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.