Parsons Co. (NYSE:PSN) Given Average Recommendation of “Buy” by Analysts

Parsons Co. (NYSE:PSNGet Free Report) has been given an average rating of “Buy” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $83.10.

A number of analysts have issued reports on PSN shares. Raymond James upgraded shares of Parsons from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $82.00 to $95.00 in a report on Wednesday, May 1st. Truist Financial lifted their price objective on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. KeyCorp lifted their price objective on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th.

Check Out Our Latest Analysis on PSN

Parsons Stock Performance

Shares of NYSE PSN opened at $79.48 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $11.66 billion, a P/E ratio of 441.58, a P/E/G ratio of 2.31 and a beta of 0.84. The firm’s fifty day moving average is $77.42 and its two-hundred day moving average is $74.00. Parsons has a 52-week low of $46.68 and a 52-week high of $85.44.

Parsons (NYSE:PSNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. As a group, analysts anticipate that Parsons will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Parsons

A number of large investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in Parsons by 5.8% in the 3rd quarter. Rhumbline Advisers now owns 74,772 shares of the company’s stock valued at $4,064,000 after buying an additional 4,131 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Parsons in the 3rd quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its position in Parsons by 53.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,471 shares of the company’s stock valued at $243,000 after buying an additional 1,566 shares during the period. Envestnet Asset Management Inc. boosted its position in Parsons by 170.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 166,192 shares of the company’s stock valued at $9,033,000 after buying an additional 104,765 shares during the period. Finally, Northern Trust Corp boosted its position in Parsons by 4.6% in the 3rd quarter. Northern Trust Corp now owns 375,410 shares of the company’s stock valued at $20,404,000 after buying an additional 16,531 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

About Parsons

(Get Free Report

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.

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Analyst Recommendations for Parsons (NYSE:PSN)

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