Parsons Co. (NYSE:PSN) Receives $104.88 Average Target Price from Analysts

Shares of Parsons Co. (NYSE:PSN) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $105.13.

Several equities research analysts have recently commented on PSN shares. Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp lifted their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial cut their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research report on Wednesday, October 23rd. Finally, Benchmark increased their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Parsons Stock Down 0.3 %

Shares of NYSE PSN opened at $99.05 on Friday. Parsons has a 12-month low of $61.10 and a 12-month high of $114.68. The firm’s 50-day simple moving average is $104.86 and its 200 day simple moving average is $90.85. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 150.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, research analysts expect that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of Parsons

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after purchasing an additional 421,085 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Parsons by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock valued at $177,413,000 after buying an additional 49,891 shares during the period. State Street Corp grew its holdings in shares of Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares during the period. Principal Financial Group Inc. increased its position in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after buying an additional 183,117 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Parsons by 61.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock worth $116,471,000 after buying an additional 428,662 shares during the period. 98.02% of the stock is currently 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.