Parsons Co. (NYSE:PSN) Receives $76.89 Consensus Target Price from Analysts

Shares of Parsons Co. (NYSE:PSN) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $76.89.

PSN has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. KeyCorp boosted their target price on shares of Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their target price on shares of Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Finally, Robert W. Baird boosted their target price on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th.

Parsons Trading Down 1.9 %

NYSE:PSN opened at $78.91 on Thursday. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44. The firm has a fifty day simple moving average of $79.08 and a 200-day simple moving average of $67.77. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.35 billion, a P/E ratio of 55.57, a PEG ratio of 3.60 and a beta of 0.85.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities research analysts anticipate that Parsons will post 2.55 earnings per share for the current year.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank purchased a new stake in shares of Parsons during the third quarter worth about $30,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Parsons during the third quarter worth about $38,000. Group One Trading L.P. purchased a new stake in shares of Parsons during the first quarter worth about $27,000. TFO Wealth Partners LLC increased its stake in shares of Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Parsons by 60.6% during the third quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock worth $43,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.