Parsons (NYSE:PSN) Price Target Lowered to $78.00 at Robert W. Baird

Parsons (NYSE:PSN) had its price target trimmed by Robert W. Baird from $125.00 to $78.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PSN has been the subject of a number of other reports. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Truist Financial dropped their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group reduced their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, KeyCorp cut their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Price Performance

Parsons stock opened at $61.82 on Thursday. The company’s 50 day simple moving average is $87.36 and its 200-day simple moving average is $95.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons has a 1 year low of $59.90 and a 1 year high of $114.68. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 81.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73.

Hedge Funds Weigh In On Parsons

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning lifted its holdings in Parsons by 15.0% during the 3rd quarter. Creative Planning now owns 8,490 shares of the company’s stock worth $880,000 after buying an additional 1,109 shares during the last quarter. Court Place Advisors LLC purchased a new stake in Parsons during the third quarter worth approximately $216,000. BayBridge Capital Group LLC acquired a new position in Parsons in the third quarter valued at approximately $580,000. Allworth Financial LP increased its stake in Parsons by 43.6% in the third quarter. Allworth Financial LP now owns 6,585 shares of the company’s stock valued at $683,000 after purchasing an additional 1,999 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Parsons during the third quarter worth approximately $1,337,000. Institutional investors and hedge funds 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.