Parsons Co. (NYSE:PSN) Receives $76.89 Consensus Price Target from Analysts

Shares of Parsons Co. (NYSE:PSN) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $76.89.

A number of brokerages recently weighed in on PSN. Robert W. Baird upped their target price on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. KeyCorp increased their price target on shares of Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Truist Financial increased their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group raised their price target on shares of Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Finally, Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Parsons in a research note on Thursday, April 4th.

Parsons Price Performance

Shares of NYSE:PSN opened at $80.41 on Thursday. The company’s fifty day moving average is $78.80 and its two-hundred day moving average is $67.50. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. Parsons has a 12-month low of $42.22 and a 12-month high of $85.44. The company has a market cap of $8.51 billion, a P/E ratio of 56.63, a price-to-earnings-growth ratio of 3.61 and a beta of 0.85.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.45 earnings per share. Equities analysts expect that Parsons will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Parsons

Large investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Parsons by 5.8% during the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after buying an additional 29,225 shares during the period. Quadrature Capital Ltd acquired a new stake in Parsons during the 3rd quarter valued at approximately $1,117,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Parsons in the 3rd quarter worth approximately $984,000. Van ECK Associates Corp grew its position in shares of Parsons by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock worth $1,172,000 after acquiring an additional 8,724 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Parsons by 189.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock worth $1,199,000 after acquiring an additional 14,456 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

About Parsons

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.