The Goldman Sachs Group Lowers Parsons (NYSE:PSN) Price Target to $98.00

Parsons (NYSE:PSN) had its price target cut by The Goldman Sachs Group from $109.00 to $98.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. KeyCorp lowered their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Jefferies Financial Group reduced their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Trading Down 0.4 %

NYSE:PSN opened at $58.86 on Tuesday. The stock has a fifty day simple moving average of $82.96 and a 200 day simple moving average of $94.33. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 77.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. Parsons has a 1-year low of $57.22 and a 1-year high of $114.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons during the 3rd quarter valued at about $2,172,000. Oppenheimer & Co. Inc. raised its position in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after acquiring an additional 6,577 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Parsons in the fourth quarter valued at approximately $577,000. Aigen Investment Management LP bought a new stake in Parsons in the third quarter worth approximately $1,004,000. Finally, Geode Capital Management LLC increased its stake in shares of Parsons by 14.0% during the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after purchasing an additional 95,040 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.