Parsons (NYSE:PSN) Cut to Outperform at Raymond James

Raymond James cut shares of Parsons (NYSE:PSN) from a strong-buy rating to an outperform rating in a report released on Wednesday, MarketBeat.com reports. Raymond James currently has $115.00 price target on the stock.

A number of other equities analysts have also recently commented on the company. Benchmark increased their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp increased their price objective on Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird lifted their target price on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Truist Financial restated a “buy” rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Parsons Trading Down 2.8 %

Shares of NYSE:PSN opened at $104.38 on Wednesday. The business’s 50 day moving average price is $100.11 and its 200-day moving average price is $86.82. Parsons has a 1 year low of $55.22 and a 1 year high of $109.55. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 242.75, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.18. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. On average, equities research analysts forecast that Parsons will post 2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parsons

A number of institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in Parsons during the second quarter worth $44,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Parsons in the first quarter valued at $62,000. Blue Trust Inc. lifted its stake in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of Parsons by 17.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the period. 98.02% of the stock is owned by hedge funds and other 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.