Analysts Set Parsons Co. (NYSE:PSN) Price Target at $108.25

Shares of Parsons Co. (NYSE:PSN) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $108.25.

PSN has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th.

Parsons Price Performance

PSN stock opened at $93.35 on Friday. Parsons has a 1 year low of $64.33 and a 1 year high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 141.44, a P/E/G ratio of 1.72 and a beta of 0.74. The company has a 50 day simple moving average of $97.44 and a 200 day simple moving average of $95.37.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Research analysts anticipate that Parsons will post 3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in Parsons in the fourth quarter worth about $26,000. GAMMA Investing LLC raised its stake in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of Parsons during the third quarter valued at $33,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Parsons in the 3rd quarter worth about $45,000. 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.