Robert W. Baird Lowers Parsons (NYSE:PSN) Price Target to $78.00

Parsons (NYSE:PSN) had its target price decreased by equities researchers at Robert W. Baird from $125.00 to $78.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 31.21% from the company’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen dropped their price objective on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Jefferies Financial Group decreased their target price on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Truist Financial decreased their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Trading Down 4.0 %

Shares of PSN stock opened at $59.45 on Thursday. The business’s fifty day moving average price is $86.65 and its 200 day moving average price is $95.41. Parsons has a 1-year low of $57.86 and a 1-year high of $114.68. The firm has a market capitalization of $6.31 billion, a PE ratio of 78.22, a P/E/G ratio of 0.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of Parsons in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parsons in the fourth quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Parsons in the fourth quarter valued at $26,000. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter valued at $30,000. Finally, Huntington National Bank lifted its position in shares of Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares in the last quarter. 98.02% of the stock is currently 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.