Parsons (NYSE:PSN) Upgraded at The Goldman Sachs Group

Parsons (NYSE:PSN) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has a $111.00 price objective on the stock, up from their prior price objective of $103.00. The Goldman Sachs Group’s target price suggests a potential upside of 14.93% from the stock’s current price.

Several other research firms also recently weighed in on PSN. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $108.88.

Parsons Trading Down 0.4 %

NYSE PSN opened at $96.58 on Thursday. The stock has a market capitalization of $10.26 billion, a P/E ratio of 146.33, a P/E/G ratio of 1.70 and a beta of 0.74. The business has a 50 day simple moving average of $103.39 and a 200 day simple moving average of $92.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons has a one year low of $61.10 and a one year high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Research analysts expect that Parsons will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Fisher Asset Management LLC grew its holdings in Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after buying an additional 90 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after acquiring an additional 96 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock valued at $471,000 after purchasing an additional 150 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the last quarter. 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.