Parsons (NYSE:PSN) Lifted to Strong-Buy at Raymond James

Raymond James upgraded shares of Parsons (NYSE:PSN - Free Report) from an outperform rating to a strong-buy rating in a research note released on Wednesday, MarketBeat.com reports. Raymond James currently has $95.00 price objective on the stock, up from their previous price objective of $82.00.

A number of other equities analysts have also recently issued reports on PSN. Robert W. Baird raised their target price on Parsons from $75.00 to $85.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Benchmark restated a buy rating and set a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. Truist Financial raised their target price on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised their target price on Parsons from $73.00 to $81.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Finally, KeyCorp raised their target price on Parsons from $89.00 to $90.00 and gave the stock an overweight rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $81.89.

Parsons Trading Down 1.1 %

Parsons stock traded down $0.89 during mid-day trading on Wednesday, hitting $77.62. The stock had a trading volume of 2,363,777 shares, compared to its average volume of 887,689. The stock has a 50-day simple moving average of $80.96 and a two-hundred day simple moving average of $69.61. The stock has a market capitalization of $8.21 billion, a PE ratio of 54.66, a P/E/G ratio of 3.53 and a beta of 0.85. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The firm's quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. As a group, sell-side analysts forecast that Parsons will post 2.57 EPS for the current year.

Institutional Investors Weigh In On Parsons

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in Parsons in the 3rd quarter valued at approximately $38,000. TFO Wealth Partners LLC increased its position in shares of Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company's stock worth $46,000 after purchasing an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Parsons during the 1st quarter worth approximately $62,000. Psagot Value Holdings Ltd. Israel increased its position in shares of Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company's stock worth $70,000 after purchasing an additional 973 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Parsons by 126.0% during the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company's stock worth $83,000 after purchasing an additional 848 shares during the last quarter. Institutional investors and hedge funds 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.