Parsons (NYSE:PSN) Stock Rating Upgraded by William Blair

Parsons (NYSE:PSN) was upgraded by investment analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports.

PSN has been the topic of several other research reports. Robert W. Baird raised their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. 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. TD Cowen reduced their target price on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, KeyCorp reduced their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.33.

Parsons Price Performance

Shares of NYSE:PSN opened at $73.37 on Tuesday. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 111.16, a PEG ratio of 1.17 and a beta of 0.73. The business has a 50 day moving average price of $88.88 and a 200 day moving average price of $96.08. 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 has a twelve month low of $72.12 and a twelve month high of $114.68.

Hedge Funds Weigh In On Parsons

A number of hedge funds have recently modified their holdings of the stock. Creative Planning grew its position in Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company’s stock valued at $880,000 after acquiring an additional 1,109 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Parsons in the 3rd quarter worth about $33,000. Stratos Wealth Advisors LLC bought a new position in Parsons during the 3rd quarter valued at about $344,000. Net Worth Advisory Group bought a new position in Parsons during the 3rd quarter valued at about $214,000. Finally, Syntegra Private Wealth Group LLC acquired a new position in Parsons in the third quarter valued at about $224,000. 98.02% of the stock is owned by institutional investors and hedge funds.

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.