Analysts Set Parsons Co. (NYSE:PSN) Price Target at $99.44

Shares of Parsons Co. (NYSE:PSN) have received an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $99.44.

Several research analysts have issued reports on the company. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. 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 report on Friday, February 21st. The Goldman Sachs Group cut their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Robert W. Baird cut their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Jefferies Financial Group cut their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th.

Parsons Price Performance

Shares of NYSE PSN opened at $60.34 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The stock has a fifty day moving average price of $78.64 and a 200 day moving average price of $92.85. Parsons has a 1-year low of $54.56 and a 1-year high of $114.68. The company has a market cap of $6.44 billion, a PE ratio of 79.39, a P/E/G ratio of 0.93 and a beta of 0.78.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new position in shares of Parsons in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons during the fourth quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the fourth quarter valued at $26,000. Huntington National Bank boosted its stake in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.