Parsons (NYSE:PSN) Given New $100.00 Price Target at Jefferies Financial Group

Parsons (NYSE:PSN) had its price target lowered by Jefferies Financial Group from $110.00 to $100.00 in a report released on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. TD Cowen dropped their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. William Blair downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, KeyCorp lowered 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and a consensus price target of $107.33.

Parsons Stock Performance

Shares of NYSE PSN opened at $83.71 on Friday. The firm’s 50-day moving average price is $94.53 and its 200-day moving average price is $96.07. Parsons has a 52-week low of $64.33 and a 52-week high of $114.68. The company has a market cap of $8.89 billion, a PE ratio of 126.83, a PEG ratio of 1.42 and a beta of 0.74. 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 (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, analysts anticipate that Parsons will post 3.02 EPS for the current year.

Institutional Trading of Parsons

A number of institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D purchased a new stake in Parsons in the 3rd quarter worth about $2,172,000. Oppenheimer & Co. Inc. boosted its stake in shares of Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after purchasing an additional 6,577 shares during the period. Aigen Investment Management LP bought a new position in Parsons in the 3rd quarter worth about $1,004,000. Geode Capital Management LLC boosted its holdings in shares of Parsons by 14.0% in the third 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 during the period. Finally, State Street Corp increased its holdings in Parsons by 60.6% during the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after purchasing an additional 616,707 shares during the period. 98.02% of the stock is currently owned by institutional investors.

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.