Parsons (NYSE:PSN) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Parsons (NYSE:PSN) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. 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 report on Thursday, October 31st. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a report on Wednesday, October 23rd. Truist Financial decreased their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, KeyCorp lifted their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $108.88.

Parsons Stock Up 0.2 %

PSN stock opened at $95.10 on Thursday. The stock has a market capitalization of $10.10 billion, a P/E ratio of 144.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $102.37 and a 200-day moving average price of $93.28. Parsons has a 12 month low of $61.35 and a 12 month high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, equities research analysts anticipate that Parsons will post 3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Parsons during the third quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in Parsons in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Parsons during the 3rd quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale bought a new position in Parsons in the 3rd quarter worth approximately $72,000. Finally, Optimum Investment Advisors purchased a new position in Parsons in the 3rd quarter valued at approximately $145,000. 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.