Parsons (NYSE:PSN) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of Parsons (NYSE:PSN) from a hold rating to a buy rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $90.00 target price on the stock, up from their prior target price of $77.00.

A number of other analysts also recently weighed in on PSN. Benchmark restated a buy rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. The Goldman Sachs Group upped their price target on shares of Parsons from $73.00 to $81.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Truist Financial upped their price target on shares of Parsons from $84.00 to $100.00 and gave the company a buy rating in a report on Tuesday, April 9th. Robert W. Baird upped their price target on shares of Parsons from $85.00 to $89.00 and gave the company an outperform rating in a report on Thursday. Finally, Raymond James upgraded shares of Parsons from an outperform rating to a strong-buy rating and upped their price target for the company from $82.00 to $95.00 in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $83.10.

Parsons Stock Performance

Parsons stock opened at $78.47 on Friday. The company’s 50-day moving average price is $80.90 and its 200-day moving average price is $69.97. Parsons has a twelve month low of $42.79 and a twelve month high of $85.44. The company has a quick ratio of 1.52, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.30 billion, a PE ratio of 435.97, a price-to-earnings-growth ratio of 3.49 and a beta of 0.86.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 36.4% on a year-over-year basis. On average, equities research analysts forecast that Parsons will post 2.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Parsons during the third quarter worth $38,000. TFO Wealth Partners LLC raised its stake in Parsons by 18,200.0% in 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 last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Parsons in the first quarter worth about $62,000. Psagot Value Holdings Ltd. Israel grew its stake in shares of Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after acquiring an additional 973 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Parsons by 126.0% during the third quarter. Covestor Ltd now owns 1,521 shares of the company’s stock valued at $83,000 after acquiring an additional 848 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.