Parsons Co. (NYSE:PSN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Parsons Co. (NYSE:PSN) have received a consensus rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $85.50.

PSN has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Truist Financial raised their price objective on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Robert W. Baird upped their target price on Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Finally, KeyCorp boosted their price objective on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th.

Hedge Funds Weigh In On Parsons

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in Parsons by 5.8% in the 3rd quarter. Rhumbline Advisers now owns 74,772 shares of the company’s stock worth $4,064,000 after purchasing an additional 4,131 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Parsons during the third quarter worth about $38,000. PNC Financial Services Group Inc. increased its stake in Parsons by 53.9% during the third quarter. PNC Financial Services Group Inc. now owns 4,471 shares of the company’s stock valued at $243,000 after acquiring an additional 1,566 shares during the period. Envestnet Asset Management Inc. raised its holdings in Parsons by 170.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 166,192 shares of the company’s stock valued at $9,033,000 after acquiring an additional 104,765 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Parsons by 4.6% in the 3rd quarter. Northern Trust Corp now owns 375,410 shares of the company’s stock worth $20,404,000 after acquiring an additional 16,531 shares during the period. Institutional investors own 98.02% of the company’s stock.

Parsons Price Performance

Shares of PSN opened at $80.20 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $11.77 billion, a PE ratio of 445.56, a PEG ratio of 2.40 and a beta of 0.84. The firm’s 50 day moving average price is $77.73 and its 200 day moving average price is $74.64. Parsons has a twelve month low of $46.85 and a twelve month high of $85.44.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, research analysts expect that Parsons will post 2.64 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.