Brokerages Set Parsons Co. (NYSE:PSN) Price Target at $107.33

Parsons Co. (NYSE:PSN) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $107.33.

PSN has been the topic of several analyst reports. TD Cowen reduced their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial reduced their price objective 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. Finally, Jefferies Financial Group lowered their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock worth $422,093,000 after buying an additional 59,545 shares during the period. State Street Corp grew its stake in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock worth $123,685,000 after acquiring an additional 183,117 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after purchasing an additional 95,040 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of PSN stock opened at $76.81 on Wednesday. The firm’s 50-day moving average is $90.70 and its two-hundred day moving average is $96.24. Parsons has a 12 month low of $67.18 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $8.16 billion, a PE ratio of 116.38, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73.

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.