Parsons (NYSE:PSN) Receives “Buy” Rating from Benchmark

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

A number of other equities research analysts have also weighed in on PSN. The Goldman Sachs Group lowered their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp decreased their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group dropped their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Friday, February 21st. Finally, Truist Financial lowered their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Stock Down 1.9 %

Shares of Parsons stock opened at $59.10 on Wednesday. The company has a market cap of $6.31 billion, a P/E ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.73. The firm has a fifty day moving average of $83.69 and a two-hundred day moving average of $94.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons has a one year low of $57.22 and a one year high of $114.68.

Hedge Funds Weigh In On Parsons

Several hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. grew its position in shares of Parsons by 117.3% in the fourth quarter. Polar Asset Management Partners Inc. now owns 79,305 shares of the company’s stock valued at $7,316,000 after purchasing an additional 42,805 shares during the last quarter. Pullen Investment Management LLC lifted its stake in Parsons by 46.5% in the 4th quarter. Pullen Investment Management LLC now owns 17,133 shares of the company’s stock valued at $1,581,000 after buying an additional 5,438 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Parsons by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company’s stock valued at $1,587,000 after buying an additional 194 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Parsons during the fourth quarter worth $1,231,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Parsons in the fourth quarter worth $228,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Company Profile

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.