Parsons (NYSE:PSN) Given Buy Rating at Benchmark

Parsons (NYSE:PSN)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Wednesday,Benzinga reports. They presently have a $90.00 price objective on the stock. Benchmark’s price objective would indicate a potential upside of 52.91% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Robert W. Baird cut their price target on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. The Goldman Sachs Group cut their price target on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp cut their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Price Performance

Parsons stock opened at $58.86 on Wednesday. Parsons has a 12 month low of $57.22 and a 12 month high of $114.68. The stock’s 50 day moving average is $82.96 and its 200-day moving average is $94.33. 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 company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 77.45, a PEG ratio of 0.93 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fisher Asset Management LLC increased its holdings in Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after purchasing an additional 90 shares during the period. CIBC Asset Management Inc increased its holdings in Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after purchasing an additional 96 shares during the period. Chartwell Investment Partners LLC increased its holdings in Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Parsons by 0.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company’s stock valued at $1,311,000 after purchasing an additional 131 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Parsons by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 2,185 shares of the company’s stock valued at $202,000 after purchasing an additional 149 shares during the period. 98.02% of the stock is currently owned by institutional investors.

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.