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

Shares of Parsons Co. (NYSE:PSN) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $104.88.

Several equities analysts have issued reports on PSN shares. Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp boosted their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Truist Financial restated a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. Finally, Benchmark raised their price objective on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Parsons Stock Up 4.3 %

Shares of PSN opened at $99.39 on Friday. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 150.59, a PEG ratio of 1.68 and a beta of 0.80. Parsons has a 52 week low of $61.10 and a 52 week high of $114.68. The stock’s 50-day moving average price is $104.77 and its 200-day moving average price is $90.57. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, sell-side analysts predict that Parsons will post 3.02 EPS for the current year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSN. State Street Corp lifted its position in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after purchasing an additional 616,707 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Parsons during the 3rd quarter worth approximately $62,514,000. Allspring Global Investments Holdings LLC boosted its position in Parsons by 61.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after buying an additional 428,662 shares during the period. Vanguard Group Inc. grew its stake in shares of Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock worth $376,997,000 after acquiring an additional 421,085 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Parsons during the second quarter worth $29,302,000. 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.