Parsons (NYSE:PSN) Stock Rating Reaffirmed by Benchmark

Parsons (NYSE:PSN)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research note issued on Thursday, Benzinga reports. They presently have a $68.00 price target on the stock. Benchmark’s price objective points to a potential downside of 19.32% from the company’s current price.

Several other equities analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Robert W. Baird upped their price target on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Truist Financial increased their price objective on shares of Parsons from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, KeyCorp boosted their target price on shares of Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.11.

Parsons Stock Up 1.5 %

Shares of NYSE:PSN opened at $84.28 on Thursday. The company’s fifty day moving average is $77.26 and its 200-day moving average is $66.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.52 and a current ratio of 1.51. Parsons has a 52 week low of $42.22 and a 52 week high of $84.99. The company has a market capitalization of $8.92 billion, a PE ratio of 59.35, a P/E/G ratio of 3.69 and a beta of 0.85.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Equities research analysts predict that Parsons will post 2.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parsons

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in shares of Parsons by 3.7% during the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock worth $305,000 after buying an additional 174 shares during the period. Arizona State Retirement System grew its holdings in Parsons by 1.5% during the third quarter. Arizona State Retirement System now owns 11,942 shares of the company’s stock valued at $649,000 after purchasing an additional 178 shares during the period. Comerica Bank increased its stake in Parsons by 32.5% in the fourth quarter. Comerica Bank now owns 742 shares of the company’s stock valued at $47,000 after purchasing an additional 182 shares in the last quarter. Jennison Associates LLC raised its holdings in Parsons by 1.6% in the fourth quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock worth $950,000 after purchasing an additional 239 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Parsons by 1.8% during the first quarter. Guggenheim Capital LLC now owns 15,193 shares of the company’s stock worth $588,000 after purchasing an additional 269 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

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.