Parsons (NYSE:PSN) Stock Rating Upgraded by TD Cowen

Parsons (NYSE:PSN) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $90.00 price target on the stock, up from their previous price target of $77.00. TD Cowen’s price objective would indicate a potential upside of 14.69% from the stock’s current price.

A number of other research firms have also recently weighed in on PSN. Robert W. Baird increased their price target on Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial upped their price objective on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group lifted their target price on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. KeyCorp upped their price target on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Benchmark reaffirmed 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, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Parsons presently has an average rating of “Buy” and a consensus price target of $83.10.

Parsons Stock Up 1.5 %

NYSE PSN opened at $78.47 on Friday. The business’s fifty day simple moving average is $80.90 and its 200-day simple moving average is $69.88. 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 firm has a market cap of $8.30 billion, a PE ratio of 435.94, a P/E/G ratio of 3.44 and a beta of 0.86. Parsons has a 52 week low of $42.79 and a 52 week high of $85.44.

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

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently bought and sold shares of PSN. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Parsons during the first quarter worth about $290,000. GSA Capital Partners LLP lifted its position in Parsons by 267.0% during the 1st quarter. GSA Capital Partners LLP now owns 29,657 shares of the company’s stock worth $2,460,000 after acquiring an additional 21,575 shares during the period. Pullen Investment Management LLC purchased a new position in shares of Parsons in the 1st quarter valued at approximately $1,080,000. Janney Montgomery Scott LLC acquired a new position in shares of Parsons in the first quarter valued at approximately $1,451,000. Finally, Van ECK Associates Corp raised its stake in shares of Parsons by 276.2% during the first quarter. Van ECK Associates Corp now owns 144,127 shares of the company’s stock worth $11,955,000 after purchasing an additional 105,812 shares during the last quarter. Hedge funds and other 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.