Parsons Co. (NYSE:PSN – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,280,000 shares, a decline of 19.1% from the August 15th total of 2,820,000 shares. Based on an average daily volume of 871,900 shares, the short-interest ratio is currently 2.6 days.
Parsons Stock Performance
PSN opened at $98.22 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 545.67, a PEG ratio of 2.06 and a beta of 0.80. The company has a fifty day moving average of $88.16 and a 200 day moving average of $82.46. Parsons has a fifty-two week low of $53.56 and a fifty-two week high of $98.63.
Parsons (NYSE:PSN – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, sell-side analysts forecast that Parsons will post 2.88 earnings per share for the current fiscal year.
Institutional Trading of Parsons
Wall Street Analysts Forecast Growth
PSN has been the topic of several recent research reports. KeyCorp raised their price objective on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Robert W. Baird upped their price target on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Benchmark raised their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $94.67.
Check Out Our Latest Stock Report on Parsons
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.
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