Parsons Co. (NYSE:PSN) Given Average Recommendation of “Hold” by Brokerages

Shares of Parsons Co. (NYSE:PSN – Get Rating) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $49.50.

Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on Parsons from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, February 16th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Monday, March 27th. Benchmark reissued a “buy” rating and issued a $51.00 price objective on shares of Parsons in a report on Monday, April 10th. Finally, Robert W. Baird increased their price objective on Parsons from $50.00 to $53.00 in a report on Thursday, May 4th.

Parsons Trading Down 2.1 %

PSN opened at $44.51 on Monday. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 2.13 and a beta of 0.83. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. Parsons has a 12 month low of $35.52 and a 12 month high of $50.15. The stock has a fifty day moving average price of $44.30 and a 200-day moving average price of $45.36.

Hedge Funds Weigh In On Parsons

A number of hedge funds have recently bought and sold shares of PSN. Squarepoint Ops LLC purchased a new position in shares of Parsons in the first quarter valued at approximately $2,106,000. Geode Capital Management LLC increased its holdings in shares of Parsons by 4.8% in the first quarter. Geode Capital Management LLC now owns 633,033 shares of the company’s stock valued at $28,322,000 after purchasing an additional 28,951 shares during the last quarter. Greenland Capital Management LP acquired a new stake in shares of Parsons in the first quarter valued at approximately $801,000. AQR Capital Management LLC increased its holdings in shares of Parsons by 125.2% in the first quarter. AQR Capital Management LLC now owns 15,639 shares of the company’s stock valued at $700,000 after purchasing an additional 8,693 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Parsons by 49.3% during the first quarter. Deutsche Bank AG now owns 25,775 shares of the company’s stock worth $1,153,000 after acquiring an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Parsons Company Profile

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Parsons Corp. engages in the provision of engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.