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

Parsons (NYSE:PSN) had its target price trimmed by Robert W. Baird from $125.00 to $78.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on PSN. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen dropped their price objective on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Truist Financial reduced their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group reduced their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Parsons presently has an average rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Trading Down 5.0 %

PSN opened at $61.82 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 52 week low of $59.90 and a 52 week high of $114.68. The business’s 50 day moving average is $87.36 and its two-hundred day moving average is $95.64. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 81.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73.

Hedge Funds Weigh In On Parsons

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D acquired a new position in Parsons during the third quarter worth $2,172,000. Oppenheimer & Co. Inc. boosted its position in shares of Parsons by 37.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after purchasing an additional 6,577 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Parsons during the 3rd quarter worth $1,004,000. Geode Capital Management LLC increased its holdings in shares of Parsons by 14.0% in the 3rd 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 in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Parsons in the 4th quarter valued at about $1,449,000. Institutional investors and hedge funds 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.