KeyCorp Lowers Parsons (NYSE:PSN) Price Target to $102.00

Parsons (NYSE:PSN) had its price objective reduced by KeyCorp from $122.00 to $102.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. TD Cowen dropped their target price on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial dropped their target price 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. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons currently has an average rating of “Moderate Buy” and an average price target of $108.25.

Parsons Stock Up 1.1 %

PSN stock opened at $92.89 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 1 year low of $63.12 and a 1 year high of $114.68. The company has a fifty day simple moving average of $97.76 and a 200 day simple moving average of $95.09. The firm has a market cap of $9.86 billion, a PE ratio of 140.74, a PEG ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Sell-side analysts anticipate that Parsons will post 3.02 EPS for the current fiscal year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSN. ORG Wealth Partners LLC bought a new stake in Parsons in the fourth quarter valued at about $26,000. GAMMA Investing LLC boosted its position in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares in the last quarter. True Wealth Design LLC acquired a new position in Parsons in the third quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the third quarter valued at about $33,000. Finally, Capital Performance Advisors LLP acquired a new position in Parsons in the third quarter valued at about $45,000. Institutional investors 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.