Parsons (NYSE:PSN) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of Parsons (NYSE:PSN) from an outperform rating to a strong-buy rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has $95.00 price objective on the stock, up from their previous price objective of $82.00.

PSN has been the subject of several other reports. Robert W. Baird boosted their price target on Parsons from $75.00 to $85.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Benchmark reaffirmed a buy rating and issued a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of Parsons from $73.00 to $81.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Truist Financial raised their target price on shares of Parsons from $84.00 to $100.00 and gave the company a buy rating in a report on Tuesday, April 9th. Finally, KeyCorp upped their price target on shares of Parsons from $89.00 to $90.00 and gave the stock an overweight rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Parsons currently has an average rating of Buy and an average target price of $83.10.

Parsons Trading Up 1.5 %

Shares of NYSE:PSN opened at $78.46 on Wednesday. Parsons has a 12-month low of $42.79 and a 12-month high of $85.44. The business has a 50 day moving average of $80.90 and a 200-day moving average of $69.80. The company has a quick ratio of 1.52, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.30 billion, a PE ratio of 435.91, a P/E/G ratio of 3.45 and a beta of 0.86.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue was up 36.4% on a year-over-year basis. As a group, equities research analysts forecast that Parsons will post 2.57 earnings per share for the current year.

Institutional Trading of Parsons

A number of hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new position in Parsons in the 3rd quarter worth about $38,000. TFO Wealth Partners LLC increased its position in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after acquiring an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Parsons during the first quarter valued at $62,000. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after purchasing an additional 973 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Parsons in the fourth quarter valued at $91,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

About Parsons

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.