Parsons (NYSE:PSN) Stock Rating Upgraded by Raymond James

Parsons (NYSE:PSN) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $95.00 target price on the stock, up from their prior target price of $82.00. Raymond James’ price target suggests a potential upside of 22.90% from the stock’s current price.

Several other research analysts have also recently commented on PSN. Truist Financial boosted their target price on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group boosted their target price on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. KeyCorp boosted their target price on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Parsons in a research note on Thursday, April 4th. Finally, Robert W. Baird boosted their target price on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $82.33.

Parsons Price Performance

PSN stock opened at $77.30 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.52 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.18 billion, a PE ratio of 429.47, a P/E/G ratio of 3.45 and a beta of 0.86. Parsons has a 12-month low of $42.79 and a 12-month high of $85.44. The business’s fifty day moving average price is $80.92 and its 200 day moving average price is $69.66.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. On average, sell-side analysts anticipate that Parsons will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in shares of Parsons by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after acquiring an additional 29,225 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Parsons in the 3rd quarter valued at about $1,117,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Parsons in the 3rd quarter valued at about $984,000. Van ECK Associates Corp boosted its position in shares of Parsons by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after purchasing an additional 8,724 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Parsons by 189.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock valued at $1,199,000 after purchasing an additional 14,456 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

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.