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

Shares of Parsons Co. (NYSE:PSN) have been given an average rating of “Buy” by the ten brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $83.10.

A number of research analysts recently weighed in on PSN shares. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. Truist Financial upped their target price on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Robert W. Baird lifted their price target on shares of Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Finally, TD Cowen raised Parsons from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $90.00 in a report on Friday, May 3rd.

Parsons Stock Down 0.8 %

PSN stock opened at $74.26 on Friday. The stock has a market capitalization of $10.90 billion, a PE ratio of 412.58, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84. The company has a fifty day moving average of $78.94 and a 200-day moving average of $72.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Parsons has a one year low of $45.69 and a one year high of $85.44.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, analysts expect that Parsons will post 2.57 EPS for the current year.

Hedge Funds Weigh In On Parsons

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Parsons by 12.5% during the 4th quarter. Principal Financial Group Inc. now owns 382,897 shares of the company’s stock worth $24,011,000 after purchasing an additional 42,531 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Parsons by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 536,292 shares of the company’s stock worth $29,147,000 after purchasing an additional 29,225 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Parsons in the 3rd quarter valued at about $1,117,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Parsons during the 3rd quarter worth about $984,000. Finally, Van ECK Associates Corp increased its position in Parsons by 68.0% during the 3rd 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. 98.02% of the stock is owned by institutional investors and hedge funds.

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.