Parsons (NYSE:PSN) Price Target Lowered to $98.00 at The Goldman Sachs Group

Parsons (NYSE:PSN) had its target price reduced by The Goldman Sachs Group from $109.00 to $98.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on PSN. Robert W. Baird reduced their target price on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp dropped their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.67.

Parsons Trading Up 2.4 %

Shares of PSN stock opened at $60.17 on Tuesday. Parsons has a 12-month low of $57.22 and a 12-month high of $114.68. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $84.40 and its 200-day moving average price is $94.83. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 79.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PSN. CIBC Private Wealth Group LLC purchased a new position in shares of Parsons during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Parsons during the fourth quarter valued at approximately $26,000. Huntington National Bank boosted its position in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after buying an additional 289 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors 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.