Analysts Set Parsons Co. (NYSE:PSN) PT at $108.88

Parsons Co. (NYSE:PSN) has been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $108.88.

Several equities research analysts have recently commented on the company. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird increased their price target on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Truist Financial dropped their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. KeyCorp lifted their price target on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Parsons

A number of institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after acquiring an additional 90 shares during the period. CIBC Asset Management Inc raised its holdings in Parsons by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after purchasing an additional 96 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after buying an additional 150 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

Shares of PSN opened at $95.10 on Tuesday. The firm has a market cap of $10.10 billion, a P/E ratio of 144.09, a PEG ratio of 1.72 and a beta of 0.74. Parsons has a twelve month low of $61.35 and a twelve month high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s 50 day moving average price is $102.37 and its two-hundred day moving average price is $93.28.

Parsons (NYSE:PSN) last posted its quarterly earnings data 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, analysts forecast that Parsons will post 3.02 EPS for the current fiscal year.

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.