Parsons (NYSE:PSN) Price Target Raised to $73.00

Parsons (NYSE:PSN) had its price target lifted by equities researchers at Stifel Nicolaus from $70.00 to $73.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.82% from the stock’s previous close.

Several other equities research analysts have also commented on PSN. Raymond James increased their price objective on shares of Parsons from $62.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Truist Financial lifted their price objective on shares of Parsons from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Jefferies Financial Group increased their target price on shares of Parsons from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America raised shares of Parsons from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $65.00 in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Parsons Stock Down 0.2 %

Shares of NYSE PSN traded down $0.10 during trading on Friday, hitting $62.49. The stock had a trading volume of 271,968 shares, compared to its average volume of 558,917. The firm has a fifty day moving average of $57.34 and a two-hundred day moving average of $51.96. The company has a market capitalization of $6.55 billion, a PE ratio of 48.88, a PEG ratio of 2.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.45 and a quick ratio of 1.45. Parsons has a 12 month low of $40.61 and a 12 month high of $63.83.

Institutional Trading of Parsons

A number of institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons during the third quarter valued at about $38,000. Group One Trading L.P. purchased a new stake in Parsons in the 1st quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its holdings in Parsons by 60.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after purchasing an additional 295 shares during the period. Altshuler Shaham Ltd grew its position in shares of Parsons by 40.9% during the 4th quarter. Altshuler Shaham Ltd now owns 1,141 shares of the company’s stock valued at $53,000 after purchasing an additional 331 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Parsons by 93.3% in the first quarter. Covestor Ltd now owns 1,405 shares of the company’s stock worth $54,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors own 98.19% 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. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity; missile defense technical solutions; C5ISR; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; nuclear and chemical waste remediation; border security and critical infrastructure protection; counter unmanned air systems; and biometrics and biosurveillance solutions to U.S.