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

Parsons Co. (NYSE:PSN) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $105.13.

Several equities analysts have commented on PSN shares. Benchmark raised their target price on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. KeyCorp lifted their price target on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price on the stock. in a research report on Wednesday, October 23rd.

Parsons Stock Down 0.5 %

Shares of PSN opened at $95.86 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.18 billion, a PE ratio of 145.24, a P/E/G ratio of 1.73 and a beta of 0.80. The firm’s 50 day moving average is $104.69 and its 200-day moving average is $91.28. Parsons has a 12 month low of $61.10 and a 12 month high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities research analysts forecast that Parsons will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSN. Franklin Resources Inc. boosted its position in Parsons by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock worth $64,813,000 after buying an additional 63,657 shares during the period. Tidal Investments LLC raised its stake in shares of Parsons by 140.9% during the third quarter. Tidal Investments LLC now owns 7,214 shares of the company’s stock valued at $748,000 after acquiring an additional 4,220 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Parsons by 42.2% during the third quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company’s stock worth $157,000 after purchasing an additional 449 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Parsons in the third quarter worth $850,000. Finally, Geode Capital Management LLC increased its holdings in Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after purchasing an additional 95,040 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.