Brokerages Set Parsons Co. (NYSE:PSN) Target Price at $83.10

Parsons Co. (NYSE:PSN) has received an average recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $85.50.

A number of brokerages have commented on PSN. The Goldman Sachs Group raised their price target on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. Stifel Nicolaus increased their price objective on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp boosted their target price on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd.

Institutional Trading of Parsons

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC boosted its position in shares of Parsons by 3.7% during the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock worth $305,000 after acquiring an additional 174 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Parsons by 17.2% during the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of 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 purchasing an additional 239 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 purchasing an additional 311 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Parsons by 7.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock worth $297,000 after buying an additional 327 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Up 1.0 %

Shares of NYSE:PSN opened at $81.97 on Tuesday. Parsons has a 52-week low of $46.85 and a 52-week high of $85.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $12.03 billion, a P/E ratio of 455.41, a P/E/G ratio of 2.38 and a beta of 0.84. The stock’s 50-day moving average is $77.60 and its 200-day moving average is $74.23.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts predict that Parsons will post 2.64 earnings per share for the current 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.