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

Shares of Parsons Co. (NYSE:PSN) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $99.44.

Several analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Parsons in a report on Wednesday. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. KeyCorp reduced their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th.

Parsons Price Performance

Shares of NYSE:PSN opened at $58.23 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.22 billion, a P/E ratio of 76.61, a PEG ratio of 0.93 and a beta of 0.73. Parsons has a 52 week low of $56.87 and a 52 week high of $114.68. The company has a 50-day moving average price of $82.21 and a 200 day moving average price of $94.10.

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently modified their holdings of PSN. CIBC Private Wealth Group LLC purchased a new stake in shares of Parsons in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons during the fourth quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Parsons during the fourth quarter valued at $26,000. True Wealth Design LLC acquired a new stake in shares of Parsons during the third quarter valued at $30,000. Finally, Huntington National Bank boosted its stake in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares during the last quarter. Hedge funds and other institutional investors 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.