Parsons Co. (NYSE:PSN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Parsons Co. (NYSE:PSN) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $108.25.

Several research analysts have recently weighed in on PSN shares. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. Robert W. Baird raised their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. TD Cowen cut their price target on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial lowered their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd.

Institutional Investors Weigh In On Parsons

Several institutional investors and hedge funds have recently made changes to their positions in PSN. State Street Corp lifted its holdings in Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Parsons during the 3rd quarter worth approximately $62,514,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Parsons during the 2nd quarter valued at approximately $29,302,000. Finally, Appian Way Asset Management LP grew its stake in Parsons by 649.9% during the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after buying an additional 342,200 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Up 1.1 %

Shares of Parsons stock opened at $92.89 on Friday. Parsons has a twelve month low of $63.12 and a twelve month high of $114.68. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 140.74, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $97.76 and a 200 day moving average price of $95.09.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities research analysts forecast that Parsons will post 3.02 earnings per share for the current fiscal year.

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.