Robert W. Baird Increases Parsons (NYSE:PSN) Price Target to $125.00

Parsons (NYSE:PSN) had its target price upped by equities research analysts at Robert W. Baird from $103.00 to $125.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 13.64% from the stock’s current price.

A number of other equities analysts have also commented on PSN. Benchmark boosted their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a report on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. Finally, KeyCorp boosted their price objective on Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Parsons Price Performance

Parsons stock opened at $110.00 on Thursday. The business has a 50 day simple moving average of $101.29 and a 200 day simple moving average of $87.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $16.14 billion, a PE ratio of 611.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.80. Parsons has a one year low of $56.04 and a one year high of $112.19.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, sell-side analysts forecast that Parsons will post 2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Parsons

Several hedge funds have recently added to or reduced their stakes in PSN. AE Wealth Management LLC raised its holdings in Parsons by 2.7% during the 2nd quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after purchasing an additional 150 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Blue Trust Inc. lifted its holdings in Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the period. Certified Advisory Corp boosted its stake in Parsons by 6.2% in the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock valued at $388,000 after acquiring an additional 278 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Parsons by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock worth $1,161,000 after acquiring an additional 311 shares during the period. Institutional investors own 98.02% of the company’s stock.

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.