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

Shares of Parsons Co. (NYSE:PSN) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $99.44.

Several analysts have commented on the company. TD Cowen cut Parsons from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Friday, February 21st. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 18th. Robert W. Baird lowered their target price on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Truist Financial lowered their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Parsons

Institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC purchased a new stake in Parsons during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parsons during the 4th quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Parsons during the 4th quarter worth $26,000. True Wealth Design LLC purchased a new stake in Parsons during the 3rd quarter worth $30,000. Finally, Huntington National Bank boosted its position in shares of Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after buying an additional 289 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of NYSE:PSN opened at $58.23 on Friday. The company has a market cap of $6.22 billion, a P/E ratio of 76.61, a P/E/G ratio of 0.93 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons has a 52 week low of $56.87 and a 52 week high of $114.68. The business has a fifty day simple moving average of $82.21 and a 200-day simple moving average of $94.10.

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.