Parsons’ (PSN) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Parsons (NYSE:PSN) in a research report report published on Wednesday,Benzinga reports. Benchmark currently has a $90.00 price target on the stock.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, February 21st. KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Stock Performance

Shares of PSN opened at $58.23 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons has a 52-week low of $56.87 and a 52-week high of $114.68. The company has a 50-day simple moving average of $82.21 and a 200-day simple moving average of $94.09. The company has a market capitalization of $6.22 billion, a PE ratio of 76.61, a P/E/G ratio of 0.93 and a beta of 0.73.

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently made changes to their positions in PSN. CIBC Private Wealth Group LLC acquired a new position in Parsons in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parsons during the fourth quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Parsons in the fourth quarter valued at approximately $26,000. Huntington National Bank raised its position in shares of Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after buying an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the period. 98.02% of the stock is currently owned by hedge funds and other 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.