Morgan Stanley Analysts Give Parsons (NYSE:PSN) a $36.00 Price Target
Morgan Stanley set a $36.00 target price on Parsons (NYSE:PSN) in a research note published on Monday morning, TipRanks reports. The firm currently has a hold rating on the stock.
A number of other equities analysts also recently issued reports on PSN. Zacks Investment Research upgraded Parsons from a hold rating to a buy rating and set a $38.00 price target for the company in a research note on Wednesday. Jefferies Financial Group assumed coverage on Parsons in a research note on Monday, June 3rd. They issued a buy rating and a $38.00 price objective for the company. Wells Fargo & Co lowered Parsons from an outperform rating to a market perform rating and set a $36.00 target price on the stock. in a report on Wednesday, June 26th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on Parsons in a report on Monday, June 3rd. They issued a buy rating and a $43.00 target price on the stock. Finally, SunTrust Banks lifted their target price on Parsons from $37.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $38.71.
Shares of NYSE PSN traded up $2.05 during mid-day trading on Monday, reaching $34.99. 379,100 shares of the company’s stock traded hands, compared to its average volume of 514,149. The business has a 50-day moving average of $35.30. Parsons has a 1-year low of $29.03 and a 1-year high of $38.82.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PSN. Royal Bank of Canada purchased a new position in Parsons during the second quarter worth about $34,000. US Bancorp DE purchased a new stake in Parsons in the 2nd quarter valued at about $50,000. Clarus Wealth Advisors purchased a new stake in Parsons in the 2nd quarter valued at about $56,000. Bank of Montreal Can purchased a new stake in Parsons in the 2nd quarter valued at about $57,000. Finally, Victory Capital Management Inc. bought a new position in shares of Parsons during the 2nd quarter worth approximately $111,000. 99.43% of the stock is currently owned by institutional investors.
Parsons Company Profile
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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