Parsons (NYSE:PSN) Reaches New 52-Week High at $104.43

Parsons Co. (NYSE:PSN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $104.43 and last traded at $103.48, with a volume of 216852 shares trading hands. The stock had previously closed at $103.68.

Analysts Set New Price Targets

PSN has been the subject of a number of analyst reports. Robert W. Baird upped their target price on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Benchmark lifted their target price on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial reiterated a “buy” rating and set a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Finally, KeyCorp lifted their price target on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $94.67.

Parsons Price Performance

The stock has a 50 day moving average of $93.11 and a 200-day moving average of $83.94. 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 company has a market cap of $11.13 billion, a PE ratio of 576.42, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.53 billion. Equities analysts predict that Parsons Co. will post 2.88 earnings per share for the current year.

Institutional Trading of Parsons

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TFO Wealth Partners LLC increased 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 buying an additional 728 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Parsons by 3.9% in the 4th quarter. Eagle Asset Management Inc. now owns 190,020 shares of the company’s stock worth $11,916,000 after purchasing an additional 7,073 shares during the period. Campbell & CO Investment Adviser LLC boosted its position in Parsons by 82.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 11,068 shares of the company’s stock worth $694,000 after purchasing an additional 5,013 shares in the last quarter. CenterBook Partners LP acquired a new stake in Parsons in the 4th quarter valued at $324,000. Finally, Quadrature Capital Ltd grew its position in shares of Parsons by 19.9% in the fourth quarter. Quadrature Capital Ltd now owns 24,642 shares of the company’s stock valued at $1,546,000 after purchasing an additional 4,091 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

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.