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

Shares of Parsons Co. (NYSE:PSN) have been given an average rating of “Buy” by the ten analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $85.50.

Several analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $90.00 in a research note on Friday, May 3rd. Robert W. Baird increased their price objective on Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. KeyCorp boosted their target price on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group lifted their price objective on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new position in Parsons in the 3rd quarter worth $38,000. TFO Wealth Partners LLC boosted its holdings in Parsons by 18,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after purchasing an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Parsons during the 1st quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel grew its stake in Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after purchasing an additional 973 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Parsons by 17.2% during the 1st 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. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Price Performance

Parsons stock opened at $80.20 on Tuesday. The company’s 50 day simple moving average is $77.73 and its 200-day simple moving average is $74.64. 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 1 year low of $46.85 and a 1 year high of $85.44. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 445.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.84.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts expect that Parsons will post 2.64 earnings per share for the current year.

About Parsons

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.