Parsons (NYSE:PSN) Given New $81.00 Price Target at The Goldman Sachs Group

Parsons (NYSE:PSN) had its price objective hoisted by The Goldman Sachs Group from $73.00 to $81.00 in a report issued on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on PSN. Robert W. Baird raised their price target on Parsons from $75.00 to $85.00 and gave the company an outperform rating in a report on Thursday, February 15th. Truist Financial lifted their target price on Parsons from $84.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 9th. Benchmark reaffirmed a buy rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. Finally, KeyCorp lifted their target price on Parsons from $74.00 to $79.00 and gave the stock an overweight rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $79.00.

Parsons Price Performance

NYSE:PSN opened at $77.47 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $80.00 and its two-hundred day simple moving average is $68.24. The stock has a market cap of $8.20 billion, a PE ratio of 54.56, a P/E/G ratio of 3.48 and a beta of 0.85. Parsons has a 52 week low of $42.22 and a 52 week high of $85.44.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, analysts forecast that Parsons will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several large investors have recently added to or reduced their stakes in PSN. Group One Trading L.P. bought a new stake in Parsons during the first quarter worth approximately $27,000. Comerica Bank bought a new stake in Parsons during the third quarter worth approximately $30,000. DekaBank Deutsche Girozentrale bought a new stake in Parsons during the third quarter worth approximately $38,000. Tower Research Capital LLC TRC increased its stake in Parsons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock worth $43,000 after acquiring an additional 295 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its position in shares of Parsons by 18,200.0% during 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 period. 98.02% of the stock is owned by 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.