The Goldman Sachs Group Has Lowered Expectations for Parsons (NYSE:PSN) Stock Price

Parsons (NYSE:PSN) had its price target cut by investment analysts at The Goldman Sachs Group from $109.00 to $98.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 65.83% from the stock’s current price.

A number of other research firms have also recently commented on PSN. Robert W. Baird lowered their target price on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Truist Financial lowered their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 21st. Finally, KeyCorp reduced their price objective on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.44.

Parsons Trading Down 1.9 %

PSN opened at $59.10 on Tuesday. The stock has a market cap of $6.31 billion, a PE ratio of 77.76, a PEG ratio of 0.93 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $83.69 and a 200-day moving average of $94.58. Parsons has a 52 week low of $57.22 and a 52 week high of $114.68.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parsons in the 4th quarter worth $25,000. ORG Wealth Partners LLC bought a new stake in shares of Parsons in the 4th quarter worth $26,000. Huntington National Bank increased its holdings in shares of Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after purchasing an additional 289 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares in the last quarter. 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.