Parsons (NYSE:PSN – Get Free Report) had its price target dropped by analysts at Jefferies Financial Group from $110.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 19.47% from the stock’s previous close.
A number of other analysts have also recently issued reports on PSN. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. KeyCorp cut their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. TD Cowen lowered their price objective on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. William Blair cut Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Parsons has an average rating of “Moderate Buy” and an average target price of $107.33.
Read Our Latest Stock Analysis on PSN
Parsons Price Performance
Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Sell-side analysts predict that Parsons will post 3.02 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of Parsons by 9.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,439 shares of the company’s stock valued at $445,000 after purchasing an additional 452 shares during the last quarter. Amalgamated Bank lifted its position in Parsons by 440.0% in the second quarter. Amalgamated Bank now owns 7,593 shares of the company’s stock worth $621,000 after buying an additional 6,187 shares during the last quarter. Hsbc Holdings PLC lifted its position in Parsons by 39.0% in the second quarter. Hsbc Holdings PLC now owns 7,677 shares of the company’s stock worth $631,000 after buying an additional 2,154 shares during the last quarter. AE Wealth Management LLC boosted its stake in Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after buying an additional 150 shares during the period. Finally, Sei Investments Co. increased its position in Parsons by 2.8% during the second quarter. Sei Investments Co. now owns 197,469 shares of the company’s stock valued at $16,155,000 after acquiring an additional 5,348 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.
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.
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