Parsons Corporation (NYSE:PSN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Parsons Corporation (NYSE:PSN) have earned an average rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $84.9231.

A number of equities research analysts have recently issued reports on PSN shares. Robert W. Baird lowered their price target on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Stifel Nicolaus reduced their price target on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. Finally, Raymond James Financial downgraded Parsons from a “strong-buy” rating to a “market perform” rating in a research report on Friday, December 5th.

Parsons Price Performance

Shares of NYSE PSN opened at $71.22 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67. Parsons has a fifty-two week low of $54.56 and a fifty-two week high of $97.91. The stock has a market cap of $7.58 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 4.06 and a beta of 0.67. The stock has a fifty day moving average of $71.45 and a 200-day moving average of $76.94.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that Parsons will post 3.58 earnings per share for the current year.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently modified their holdings of the business. Channing Capital Management LLC grew its holdings in shares of Parsons by 20.3% during the second quarter. Channing Capital Management LLC now owns 1,277,286 shares of the company’s stock worth $91,671,000 after purchasing an additional 215,106 shares in the last quarter. Hood River Capital Management LLC bought a new stake in Parsons during the second quarter valued at approximately $11,153,000. Wolverine Asset Management LLC bought a new stake in Parsons during the third quarter valued at approximately $1,369,000. Blackston Financial Advisory Group LLC purchased a new position in Parsons in the 2nd quarter worth approximately $310,000. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Parsons by 568.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 510,525 shares of the company’s stock worth $36,640,000 after buying an additional 434,142 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

About Parsons

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.