Parsons Co. (NYSE:PSN) Receives $83.10 Average Price Target from Brokerages

Shares of Parsons Co. (NYSE:PSN) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $83.10.

PSN has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Parsons in a report on Thursday, April 4th. Truist Financial boosted their price objective 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. Robert W. Baird raised their target price on shares of Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $82.00 to $95.00 in a report on Wednesday, May 1st. Finally, KeyCorp raised their price target on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 19th.

Institutional Trading of Parsons

Several large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons in the third quarter worth $38,000. TFO Wealth Partners LLC lifted 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 worth $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parsons in the 1st quarter valued at about $62,000. Psagot Value Holdings Ltd. Israel increased its stake in Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the period. Finally, Covestor Ltd increased its stake in Parsons by 126.0% during the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company’s stock valued at $83,000 after buying an additional 848 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Price Performance

PSN opened at $77.60 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. Parsons has a 1-year low of $42.79 and a 1-year high of $85.44. The company has a 50-day moving average of $80.76 and a 200-day moving average of $70.32. The company has a market capitalization of $8.21 billion, a P/E ratio of 431.14, a PEG ratio of 2.92 and a beta of 0.86.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. Parsons’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Equities analysts expect that Parsons will post 2.57 EPS for the current fiscal year.

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.