Parsons (NYSE:PSN) Upgraded at TD Cowen

TD Cowen upgraded shares of Parsons (NYSE:PSN) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other research firms have also commented on PSN. Robert W. Baird lifted their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note 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 research note on Friday, November 22nd. Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research note on Wednesday, October 23rd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their target price for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Finally, KeyCorp increased their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $108.88.

Parsons Price Performance

PSN stock opened at $95.68 on Thursday. The company has a market capitalization of $10.16 billion, a P/E ratio of 144.97, a PEG ratio of 1.72 and a beta of 0.74. The company has a fifty day moving average price of $102.14 and a 200-day moving average price of $93.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons has a 52-week low of $61.35 and a 52-week high of $114.68.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts expect that Parsons will post 3.02 EPS for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons in the 3rd quarter valued at about $2,172,000. Oppenheimer & Co. Inc. boosted its holdings in Parsons by 37.7% in the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after acquiring an additional 6,577 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Parsons in the third quarter valued at approximately $1,004,000. Geode Capital Management LLC increased its holdings in shares of Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of Parsons during the second quarter worth approximately $4,417,000. 98.02% of the stock is owned by 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.