Robert W. Baird Lowers Parsons (NYSE:PSN) Price Target to $82.00

Parsons (NYSE:PSN) had its price objective dropped by stock analysts at Robert W. Baird from $100.00 to $82.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 25.69% from the company’s current price.

PSN has been the subject of a number of other reports. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Raymond James Financial lowered Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. UBS Group initiated coverage on shares of Parsons in a research report on Wednesday, November 19th. They set a “buy” rating and a $107.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.18.

Parsons Stock Performance

Shares of PSN stock opened at $65.24 on Monday. Parsons has a 1 year low of $54.56 and a 1 year high of $99.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.27 and a beta of 0.65. The stock’s 50-day moving average is $83.10 and its two-hundred day moving average is $77.72.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.12. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. Analysts predict that Parsons will post 3.58 earnings per share for the current year.

Hedge Funds Weigh In On Parsons

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Parsons by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,077,310 shares of the company’s stock worth $421,011,000 after purchasing an additional 130,694 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Parsons by 10.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company’s stock worth $193,363,000 after buying an additional 217,342 shares in the last quarter. Groupama Asset Managment acquired a new stake in Parsons in the 1st quarter valued at about $136,183,000. William Blair Investment Management LLC increased its holdings in Parsons by 72.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after acquiring an additional 793,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Parsons by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,682,586 shares of the company’s stock worth $139,511,000 after acquiring an additional 45,922 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

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.