Robert W. Baird Raises Parsons (NYSE:PSN) Price Target to $89.00

Parsons (NYSE:PSN) had its price target lifted by stock analysts at Robert W. Baird from $85.00 to $89.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 13.42% from the company’s current price.

A number of other brokerages have also recently issued reports on PSN. The Goldman Sachs Group upped their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Raymond James raised shares of Parsons from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $82.00 to $95.00 in a research note on Wednesday. KeyCorp increased their price target on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Finally, Truist Financial raised their target price on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $83.10.

Parsons Price Performance

Shares of PSN stock traded up $1.17 during trading on Thursday, hitting $78.47. The company had a trading volume of 801,569 shares, compared to its average volume of 762,251. The company has a quick ratio of 1.52, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $80.90 and its two-hundred day moving average is $69.80. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 435.94, a price-to-earnings-growth ratio of 3.44 and a beta of 0.86. Parsons has a 52 week low of $42.79 and a 52 week high of $85.44.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. As a group, analysts predict that Parsons will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in Parsons during the 3rd quarter valued at about $38,000. TFO Wealth Partners LLC increased its stake in Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Parsons during the 1st quarter valued at about $62,000. Psagot Value Holdings Ltd. Israel increased its stake in Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after purchasing an additional 973 shares in the last quarter. Finally, Covestor Ltd increased its stake in Parsons by 126.0% during the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company’s stock valued at $83,000 after purchasing an additional 848 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

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.