Parsons Co. (NYSE:PSN) Receives Average Rating of “Buy” from Analysts

Parsons Co. (NYSE:PSN) has received an average rating of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $108.88.

A number of research firms have recently commented on PSN. Truist Financial cut their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a report on Wednesday, October 23rd. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Robert W. Baird lifted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, KeyCorp increased their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

Parsons Trading Up 1.4 %

Shares of PSN stock opened at $97.89 on Tuesday. The firm’s 50-day simple moving average is $103.03 and its 200-day simple moving average is $93.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons has a 1-year low of $61.35 and a 1-year high of $114.68. The firm has a market cap of $10.39 billion, a P/E ratio of 148.32, a PEG ratio of 1.72 and a beta of 0.74.

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

Institutional Investors Weigh In On Parsons

Hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama purchased a new position in shares of Parsons during the 3rd quarter valued at approximately $5,884,000. Franklin Resources Inc. boosted its stake in Parsons by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock valued at $64,813,000 after acquiring an additional 63,657 shares during the last quarter. Tidal Investments LLC grew its holdings in Parsons by 140.9% during the 3rd quarter. Tidal Investments LLC now owns 7,214 shares of the company’s stock worth $748,000 after acquiring an additional 4,220 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Parsons by 42.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company’s stock worth $157,000 after purchasing an additional 449 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Parsons during the third quarter worth about $850,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.