Parsons (NYSE:PSN) Given New $98.00 Price Target at The Goldman Sachs Group

Parsons (NYSE:PSN) had its price objective cut by The Goldman Sachs Group from $109.00 to $98.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 63.07% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. KeyCorp decreased their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, TD Cowen lowered shares of Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Friday. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.67.

Parsons Price Performance

Parsons stock traded up $1.35 during mid-day trading on Tuesday, reaching $60.10. 588,592 shares of the company’s stock traded hands, compared to its average volume of 1,576,823. Parsons has a 12-month low of $57.22 and a 12-month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $85.13 and a two-hundred day moving average of $95.06. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 79.07, a PEG ratio of 0.93 and a beta of 0.73.

Institutional Trading of Parsons

A number of large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC bought a new stake in Parsons during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons during the fourth quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in shares of Parsons in the fourth quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in Parsons in the third quarter worth about $30,000. Finally, Huntington National Bank grew its holdings in Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after acquiring an additional 289 shares in the last quarter. Hedge funds and other institutional investors 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.