Parsons (NYSE:PSN) Given New $90.00 Price Target at KeyCorp

Parsons (NYSE:PSN) had its target price lifted by KeyCorp from $89.00 to $90.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 15.68% from the company’s previous close.

A number of other brokerages have also issued reports on PSN. The Goldman Sachs Group upped their price target on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Truist Financial increased their price objective on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Parsons Trading Down 1.0 %

NYSE PSN opened at $77.80 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.23 billion, a PE ratio of 54.79, a price-to-earnings-growth ratio of 3.52 and a beta of 0.85. The company has a 50 day moving average price of $79.81 and a 200 day moving average price of $68.08. Parsons has a 52 week low of $42.22 and a 52 week high of $85.44.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. Parsons’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts forecast that Parsons will post 2.55 EPS for the current fiscal year.

Institutional Trading of Parsons

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSN. Group One Trading L.P. acquired a new stake in shares of Parsons in the first quarter valued at about $27,000. Comerica Bank acquired a new stake in shares of Parsons in the third quarter valued at about $30,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the third quarter valued at about $38,000. Tower Research Capital LLC TRC grew its position in shares of Parsons by 60.6% in the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after purchasing an additional 295 shares during the period. Finally, TFO Wealth Partners LLC grew its position in shares of Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the period. Institutional investors and hedge funds 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.