Parsons (NYSE:PSN) Given New $98.00 Price Target at The Goldman Sachs Group

Parsons (NYSE:PSN) had its price target trimmed by The Goldman Sachs Group from $109.00 to $98.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently commented on the company. Robert W. Baird cut their target price on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, February 21st. Jefferies Financial Group cut their target price on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, KeyCorp cut their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus price target of $100.67.

Parsons Stock Performance

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

Hedge Funds Weigh In On Parsons

Institutional investors and hedge funds have recently modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Parsons in the 3rd quarter worth $2,172,000. Oppenheimer & Co. Inc. raised its holdings in Parsons by 37.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after purchasing an additional 6,577 shares during the period. Aigen Investment Management LP bought a new position in Parsons in the 3rd quarter worth $1,004,000. Geode Capital Management LLC raised its holdings in Parsons by 14.0% in the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after purchasing an additional 95,040 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Parsons in the 4th quarter worth $577,000. 98.02% of the stock is currently owned by hedge funds and other 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.