Parsons (NYSE:PSN) Given New $90.00 Price Target at KeyCorp

Parsons (NYSE:PSN) had its target price increased by KeyCorp from $89.00 to $90.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on PSN. Truist Financial boosted their price target on shares of Parsons from $84.00 to $100.00 and gave the company a buy rating in a research report on Tuesday, April 9th. Benchmark reissued a buy rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Robert W. Baird boosted their price target on shares of Parsons from $75.00 to $85.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Parsons from $73.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $79.00.

Parsons Stock Performance

Shares of PSN stock opened at $77.87 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $80.20 and a 200 day moving average price of $68.60. The company has a market cap of $8.24 billion, a P/E ratio of 54.84, a PEG ratio of 3.47 and a beta of 0.85. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company’s revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Parsons will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons in the third quarter valued at about $38,000. TFO Wealth Partners LLC raised its holdings in shares of Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the last quarter. Psagot Value Holdings Ltd. Israel raised its holdings in shares of Parsons by 700.0% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the last quarter. Covestor Ltd raised its holdings in Parsons by 126.0% during the third quarter. Covestor Ltd now owns 1,521 shares of the company’s stock worth $83,000 after purchasing an additional 848 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Parsons during the fourth quarter worth about $91,000. 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.