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

Parsons Co. (NYSE:PSN) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have given a 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 $76.89.

PSN has been the subject of several recent analyst reports. Truist Financial upped their price target on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird upped their target price on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of Parsons from $65.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Finally, KeyCorp raised their target price on shares of Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Parsons by 56.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after acquiring an additional 1,420,028 shares during the period. Norges Bank bought a new stake in shares of Parsons during the fourth quarter valued at approximately $31,511,000. Lord Abbett & CO. LLC bought a new stake in shares of Parsons during the first quarter valued at approximately $20,520,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Parsons in the third quarter valued at $27,952,000. Finally, Vanguard Group Inc. lifted its position in Parsons by 15.2% in the first quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock worth $121,084,000 after purchasing an additional 412,992 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

PSN stock opened at $80.27 on Thursday. The firm has a 50 day moving average of $78.21 and a two-hundred day moving average of $67.14. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 56.53, a P/E/G ratio of 3.75 and a beta of 0.85. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN) last released 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. Parsons’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, equities analysts anticipate that Parsons will post 2.55 EPS for the current fiscal year.

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.