Jefferies Financial Group Issues Pessimistic Forecast for Parsons (NYSE:PSN) Stock Price

Parsons (NYSE:PSNGet Free Report) had its target price dropped by Jefferies Financial Group from $110.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 19.47% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. TD Cowen dropped their target price on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, William Blair cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.33.

Read Our Latest Report on PSN

Parsons Trading Down 1.9 %

NYSE PSN opened at $83.71 on Friday. The firm has a market capitalization of $8.89 billion, a PE ratio of 126.83, a P/E/G ratio of 1.42 and a beta of 0.74. The stock’s 50 day moving average is $94.53 and its 200 day moving average is $95.95. Parsons has a twelve month low of $64.33 and a twelve month high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSNGet Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Research analysts forecast that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Large investors have recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in shares of Parsons in the 4th quarter worth $26,000. GAMMA Investing LLC lifted its holdings in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the period. True Wealth Design LLC purchased a new position in Parsons in the third quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in Parsons in the third quarter worth about $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons during the 4th quarter valued at about $38,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Parsons (NYSE:PSN)

Receive News & Ratings for Parsons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsons and related companies with MarketBeat.com's FREE daily email newsletter.