Parsons (NYSE:PSN) Price Target Lowered to $110.00 at Truist Financial

Parsons (NYSE:PSN) had its price target decreased by Truist Financial from $130.00 to $110.00 in a research note released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts also recently weighed in on PSN. Benchmark lifted their price objective 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. KeyCorp increased their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. 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 research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Parsons Stock Performance

Shares of NYSE PSN opened at $96.73 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $104.84 and its two-hundred day moving average price is $91.09. Parsons has a 52-week low of $61.10 and a 52-week high of $114.68. The stock has a market capitalization of $10.27 billion, a P/E ratio of 146.56, a P/E/G ratio of 1.77 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. As a group, sell-side analysts forecast that Parsons will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PSN. True Wealth Design LLC bought a new position in shares of Parsons during the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new stake in Parsons during the third quarter valued at approximately $33,000. Tanglewood Legacy Advisors LLC bought a new stake in Parsons during the second quarter worth approximately $44,000. Capital Performance Advisors LLP acquired a new position in Parsons in the third quarter worth approximately $45,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Parsons in the 3rd quarter worth $72,000. 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.