Parsons (NYSE:PSN) Raised to “Outperform” at William Blair

William Blair upgraded shares of Parsons (NYSE:PSN) from a market perform rating to an outperform rating in a report issued on Tuesday morning, MarketBeat.com reports.

Several other analysts have also issued reports on PSN. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial cut their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, TD Cowen decreased their target price on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Stock Down 0.0 %

Shares of NYSE PSN opened at $73.43 on Tuesday. Parsons has a 12 month low of $72.12 and a 12 month high of $114.68. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 111.26, a PEG ratio of 1.17 and a beta of 0.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $88.41 and a 200-day moving average of $95.97.

Institutional Trading of Parsons

A number of hedge funds and other institutional investors have recently modified their holdings of PSN. Creative Planning boosted its stake in Parsons by 15.0% during the third quarter. Creative Planning now owns 8,490 shares of the company’s stock worth $880,000 after acquiring an additional 1,109 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Parsons during the third quarter valued at $33,000. Stratos Wealth Advisors LLC bought a new stake in Parsons in the third quarter worth $344,000. Net Worth Advisory Group bought a new stake in Parsons during the 3rd quarter valued at about $214,000. Finally, Syntegra Private Wealth Group LLC purchased a new stake in shares of Parsons during the third quarter valued at $224,000. 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.