Robert W. Baird Raises Parsons (NYSE:PSN) Price Target to $103.00

Parsons (NYSE:PSN) had its price target boosted by Robert W. Baird from $89.00 to $103.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Benchmark restated a buy rating and issued a $68.00 price objective on shares of Parsons in a research report on Thursday, April 4th. KeyCorp lifted 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. The Goldman Sachs Group raised their price target on shares of Parsons from $73.00 to $81.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their price objective on shares of Parsons from $95.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Finally, Truist Financial raised their target price on shares of Parsons from $84.00 to $100.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. One 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 MarketBeat.com, the company presently has an average rating of Buy and an average price target of $91.70.

Parsons Stock Performance

Shares of NYSE PSN traded up $0.56 during mid-day trading on Thursday, hitting $89.38. The stock had a trading volume of 388,868 shares, compared to its average volume of 891,153. The company has a 50 day moving average of $78.66 and a two-hundred day moving average of $77.50. Parsons has a twelve month low of $53.56 and a twelve month high of $91.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.79 and a current ratio of 1.80. The firm has a market cap of $13.12 billion, a PE ratio of 493.47, a PEG ratio of 2.58 and a beta of 0.81.

Hedge Funds Weigh In On Parsons

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new stake in shares of Parsons in the 2nd quarter worth $3,600,000. Versor Investments LP purchased a new position in Parsons during the second quarter worth about $360,000. Verus Capital Partners LLC acquired a new stake in Parsons in the second quarter valued at about $564,000. Lisanti Capital Growth LLC boosted its holdings in Parsons by 19.3% in the 2nd quarter. Lisanti Capital Growth LLC now owns 55,930 shares of the company’s stock valued at $4,576,000 after purchasing an additional 9,065 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Parsons by 98.3% during the 2nd quarter. Van ECK Associates Corp now owns 285,800 shares of the company’s stock worth $23,381,000 after purchasing an additional 141,673 shares during the period. Hedge funds and other institutional investors 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.