Parsons (NYSE:PSN) Trading Up 7.3% – What’s Next?

Parsons Co. (NYSE:PSN) traded up 7.3% during trading on Wednesday . The company traded as high as $101.84 and last traded at $101.69. 943,048 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 902,490 shares. The stock had previously closed at $94.75.

Wall Street Analyst Weigh In

PSN has been the subject of a number of analyst reports. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a report on Wednesday, October 23rd. Truist Financial reduced their target price 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 raised their price objective on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their target price 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Parsons Stock Up 4.5 %

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’s fifty day simple moving average is $104.38 and its two-hundred day simple moving average is $91.88. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 143.56, a PEG ratio of 1.71 and a beta of 0.74.

Parsons (NYSE:PSN) last announced 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 company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, sell-side analysts predict that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently modified their holdings of PSN. True Wealth Design LLC bought a new stake in Parsons during the 3rd quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in Parsons during the 3rd quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons during the 2nd quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new stake in shares of Parsons during the 3rd quarter worth approximately $45,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Parsons during the 3rd quarter worth approximately $72,000. 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.