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

Parsons Co. (NYSE:PSN) has been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $83.10.

A number of equities analysts have recently issued reports on the stock. Raymond James raised shares of Parsons from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Truist Financial raised their price target on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and raised their price target for the company from $77.00 to $90.00 in a research report on Friday, May 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC grew its stake in Parsons by 3.7% in the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after buying an additional 174 shares in the last quarter. EntryPoint Capital LLC grew its stake in Parsons by 17.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock valued at $111,000 after buying an additional 196 shares in the last quarter. Jennison Associates LLC grew its stake in Parsons by 1.6% in the 4th quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock valued at $950,000 after buying an additional 239 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Parsons by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,992 shares of the company’s stock valued at $1,161,000 after buying an additional 311 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Parsons by 7.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock valued at $297,000 after purchasing an additional 327 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Price Performance

PSN stock opened at $79.48 on Tuesday. The stock has a market capitalization of $11.66 billion, a PE ratio of 441.58, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. The company’s 50-day moving average is $77.42 and its 200-day moving average is $74.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Parsons has a 1 year low of $46.68 and a 1 year high of $85.44.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. Equities research analysts expect that Parsons will post 2.63 EPS 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.