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

Shares of Parsons Co. (NYSE:PSN) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $77.78.

Several equities analysts recently commented on PSN shares. The Goldman Sachs Group increased their target price on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday. KeyCorp upped their price objective on shares of Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial upped their price objective on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Parsons in a research note on Thursday, April 4th. Finally, Robert W. Baird upped their price objective on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th.

Parsons Stock Down 0.5 %

Parsons stock opened at $78.56 on Thursday. The firm has a market capitalization of $8.31 billion, a P/E ratio of 55.32, a P/E/G ratio of 3.53 and a beta of 0.85. The stock’s fifty day simple moving average is $79.60 and its 200-day simple moving average is $68.02. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. Parsons has a twelve month low of $42.22 and a twelve month high of $85.44.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. Parsons’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, equities analysts expect that Parsons will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its stake in shares of Parsons by 5.8% during the third quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after buying an additional 29,225 shares during the period. Quadrature Capital Ltd purchased a new position in Parsons during the third quarter worth about $1,117,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Parsons during the third quarter worth about $984,000. Van ECK Associates Corp raised its holdings in Parsons by 68.0% during the third quarter. Van ECK Associates Corp now owns 21,559 shares of the company’s stock worth $1,172,000 after purchasing an additional 8,724 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Parsons by 189.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 22,069 shares of the company’s stock worth $1,199,000 after purchasing an additional 14,456 shares in the last quarter. Institutional investors and hedge funds 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.