Analysts Set Parsons Co. (NYSE:PSN) Price Target at $99.00

Shares of Parsons Co. (NYSE:PSN) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $102.11.

PSN has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Benchmark upped their target price on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp lifted their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday.

Parsons Stock Up 0.5 %

Shares of NYSE PSN opened at $108.72 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $11.54 billion, a PE ratio of 164.73, a P/E/G ratio of 2.37 and a beta of 0.80. Parsons has a one year low of $60.38 and a one year high of $112.19. The business’s fifty day moving average price is $101.84 and its 200-day moving average price is $88.03.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.88%. On average, equities research analysts anticipate that Parsons will post 2.89 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC bought a new position in shares of Parsons during the 3rd quarter valued at $62,514,000. Allspring Global Investments Holdings LLC boosted its position in Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after buying an additional 428,662 shares during the period. Vanguard Group Inc. grew its stake in shares of Parsons by 10.2% during the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company’s stock valued at $376,997,000 after buying an additional 421,085 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Parsons in the second quarter worth about $29,302,000. Finally, Appian Way Asset Management LP lifted its stake in shares of Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after acquiring an additional 342,200 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

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.