Truist Financial Boosts Parsons (NYSE:PSN) Price Target to $90.00

Parsons (NYSE:PSN - Get Free Report) had its price objective boosted by equities researchers at Truist Financial from $80.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 19.31% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. KeyCorp reaffirmed an "overweight" rating and set a $82.00 price objective (up previously from $73.00) on shares of Parsons in a research note on Wednesday, July 16th. Stifel Nicolaus started coverage on shares of Parsons in a research note on Tuesday, June 24th. They set a "buy" rating and a $81.00 price objective for the company. Baird R W lowered shares of Parsons from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group boosted their target price on shares of Parsons from $70.00 to $80.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.20.

Parsons Stock Performance

Shares of NYSE:PSN traded down $0.61 on Thursday, hitting $75.44. 118,613 shares of the company were exchanged, compared to its average volume of 1,448,430. Parsons has a 1-year low of $54.56 and a 1-year high of $114.68. The stock's 50 day moving average price is $70.45 and its 200 day moving average price is $69.74. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.06 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 4.48 and a beta of 0.55.

Institutional Trading of Parsons

A number of large investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS boosted its stake in Parsons by 7.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the company's stock worth $782,000 after purchasing an additional 800 shares during the period. LBP AM SA acquired a new stake in shares of Parsons in the 2nd quarter worth $202,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Parsons in the 2nd quarter worth $2,373,000. Public Employees Retirement System of Ohio lifted its stake in shares of Parsons by 16.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,885 shares of the company's stock worth $1,212,000 after acquiring an additional 2,325 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Parsons by 23.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,277 shares of the company's stock worth $92,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds 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.

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