Parsons (NYSE:PSN – Free Report) had its price target increased by Robert W. Baird from $85.00 to $89.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.
Other analysts also recently issued reports about the company. KeyCorp lifted their price objective on Parsons from $89.00 to $90.00 and gave the company an overweight rating in a report on Friday, April 19th. Truist Financial upped their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Benchmark reissued a buy rating and set a $68.00 price objective on shares of Parsons in a report on Thursday, April 4th. The Goldman Sachs Group increased their target price on Parsons from $73.00 to $81.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Raymond James raised Parsons from an outperform rating to a strong-buy rating and boosted their price target for the stock from $82.00 to $95.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $83.10.
Get Our Latest Report on Parsons
Parsons Trading Up 1.5 %
Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. Parsons’s revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Parsons will post 2.57 earnings per share for the current year.
Institutional Investors Weigh In On Parsons
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in shares of Parsons by 5.8% during the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after buying an additional 29,225 shares during the period. Quadrature Capital Ltd purchased a new stake in Parsons during the 3rd quarter valued at about $1,117,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Parsons during the 3rd quarter valued at about $984,000. Van ECK Associates Corp increased its holdings in shares of Parsons by 68.0% in the third quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock valued at $1,172,000 after purchasing an additional 8,724 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Parsons by 189.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock worth $1,199,000 after purchasing an additional 14,456 shares during the last quarter. 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.
Recommended Stories
- Five stocks we like better than Parsons
- Canada Bond Market Holiday: How to Invest and Trade
- MarketBeat Week in Review – 4/29 – 5/3
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- How to invest in blue chip stocks
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Parsons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsons and related companies with MarketBeat.com's FREE daily email newsletter.