Parsons (NYSE:PSN – Free Report) had its target price decreased by TD Cowen from $117.00 to $105.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.
A number of other equities analysts also recently weighed in on the company. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.
Check Out Our Latest Stock Analysis on Parsons
Parsons Stock Up 1.1 %
Parsons (NYSE:PSN – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts anticipate that Parsons will post 3.02 EPS for the current fiscal year.
Institutional Investors Weigh In On Parsons
A number of large investors have recently added to or reduced their stakes in PSN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons during the 3rd quarter worth $2,172,000. Oppenheimer & Co. Inc. grew its stake in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after buying an additional 6,577 shares in the last quarter. Aigen Investment Management LP bought a new position in Parsons in the 3rd quarter valued at about $1,004,000. Geode Capital Management LLC raised its position 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 buying an additional 95,040 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Parsons during the 2nd quarter worth approximately $4,417,000. Institutional investors and hedge funds own 98.02% of the company’s stock.
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.
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