Stifel Nicolaus Raises Parsons (NYSE:PSN) Price Target to $73.00

Parsons (NYSE:PSN) had its target price raised by analysts at Stifel Nicolaus from $70.00 to $73.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 16.82% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Truist Financial upped their price target on Parsons from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Raymond James increased their target price on Parsons from $62.00 to $69.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Bank of America upgraded Parsons from an “underperform” rating to a “buy” rating and raised their price target for the company from $46.00 to $65.00 in a report on Monday, August 14th. Finally, Jefferies Financial Group upped their price target on shares of Parsons from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Parsons Stock Down 0.2 %

PSN traded down $0.10 during midday trading on Friday, reaching $62.49. The company’s stock had a trading volume of 271,968 shares, compared to its average volume of 558,917. Parsons has a 1 year low of $40.61 and a 1 year high of $63.83. The stock’s 50-day moving average is $57.34 and its 200-day moving average is $51.96. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.18 and a beta of 0.80. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

Institutional Investors Weigh In On Parsons

Large investors have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in shares of Parsons by 36.5% during the 1st quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock valued at $614,000 after acquiring an additional 4,243 shares during the last quarter. Group One Trading L.P. bought a new position in Parsons during the first quarter valued at approximately $27,000. HighTower Advisors LLC purchased a new stake in Parsons in the first quarter worth approximately $242,000. MetLife Investment Management LLC grew its position in Parsons by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock worth $606,000 after purchasing an additional 5,504 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Parsons by 45.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock valued at $26,827,000 after buying an additional 216,326 shares during the last quarter. 98.19% of the stock is currently owned by 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. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity; missile defense technical solutions; C5ISR; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; nuclear and chemical waste remediation; border security and critical infrastructure protection; counter unmanned air systems; and biometrics and biosurveillance solutions to U.S.