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

Parsons Co. (NYSE:PSN) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $104.88.

A number of research firms recently weighed in on PSN. Benchmark lifted their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note 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. Truist Financial restated a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Robert W. Baird raised their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their price objective on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Parsons

Several institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in Parsons during the third quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $33,000. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Parsons during the 2nd quarter worth $44,000. Capital Performance Advisors LLP purchased a new position in shares of Parsons in the 3rd quarter worth $45,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Parsons in the third quarter valued at $72,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Up 4.3 %

Shares of NYSE:PSN opened at $99.39 on Friday. Parsons has a 1-year low of $61.10 and a 1-year high of $114.68. The stock has a market cap of $10.55 billion, a P/E ratio of 150.59, a P/E/G ratio of 1.68 and a beta of 0.80. The firm has a fifty day moving average price of $104.77 and a 200 day moving average price of $90.57. 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 (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Sell-side analysts predict that Parsons will post 3.02 EPS 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.