Benchmark Reaffirms Buy Rating for Parsons (NYSE:PSN)

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

A number of other equities research analysts have also recently commented on PSN. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Friday, February 21st. Truist Financial decreased their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Down 0.4 %

NYSE PSN opened at $58.86 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons has a 52 week low of $57.22 and a 52 week high of $114.68. The stock has a fifty day moving average of $82.96 and a 200-day moving average of $94.33. The stock has a market capitalization of $6.28 billion, a P/E ratio of 77.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73.

Institutional Trading of Parsons

A number of institutional investors have recently modified their holdings of PSN. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons during the fourth quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in Parsons during the fourth quarter worth about $26,000. Huntington National Bank raised its holdings in Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after acquiring an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after acquiring an additional 218 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.