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

Parsons Co. (NYSE:PSN) has been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $107.33.

A number of equities analysts have weighed in on PSN shares. Robert W. Baird upped their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. KeyCorp cut their price objective on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. William Blair downgraded Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Finally, Truist Financial cut their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Parsons

Several hedge funds have recently modified their holdings of PSN. Fisher Asset Management LLC lifted its stake in Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after purchasing an additional 90 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after acquiring an additional 96 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock worth $1,507,000 after acquiring an additional 117 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Parsons by 10.7% during the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after purchasing an additional 265 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Performance

Shares of NYSE:PSN opened at $78.18 on Wednesday. The business has a 50-day moving average of $92.54 and a two-hundred day moving average of $96.26. The firm has a market capitalization of $8.30 billion, a PE ratio of 118.46, a P/E/G ratio of 1.19 and a beta of 0.73. 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 12 month low of $64.33 and a 12 month high of $114.68.

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.