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

Parsons Corporation (NYSE:PSN) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $92.8182.

Several research analysts have recently issued reports on PSN shares. Robert W. Baird increased their price target on Parsons from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. UBS Group began coverage on shares of Parsons in a research note on Wednesday, November 19th. They set a “buy” rating and a $107.00 target price on the stock. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. KeyCorp increased their price objective on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th.

Parsons Price Performance

NYSE PSN opened at $82.75 on Tuesday. The company has a 50-day moving average price of $83.93 and a two-hundred day moving average price of $77.45. Parsons has a 52 week low of $54.56 and a 52 week high of $101.92. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 4.38 and a beta of 0.65. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. Parsons has set its FY 2025 guidance at EPS. Analysts forecast that Parsons will post 3.58 EPS for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently bought and sold shares of PSN. Groupama Asset Managment acquired a new position in shares of Parsons in the 1st quarter worth approximately $136,183,000. William Blair Investment Management LLC increased its holdings in shares of Parsons by 72.5% in the second quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after buying an additional 793,807 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Parsons during the 2nd quarter valued at $45,653,000. Finally, Norges Bank acquired a new position in shares of Parsons in the 2nd quarter worth $37,131,000. 98.02% of the stock is currently owned by 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.