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

Parsons Corporation (NYSE:PSN) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $78.1667.

Several equities analysts have commented on PSN shares. KeyCorp cut shares of Parsons from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 14th. Citigroup decreased their price target on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. Truist Financial decreased their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings cut shares of Parsons from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th.

Parsons Stock Performance

Shares of PSN stock opened at $53.78 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55. Parsons has a 52 week low of $48.23 and a 52 week high of $89.50. The stock has a market capitalization of $5.75 billion, a PE ratio of 25.73, a P/E/G ratio of 1.71 and a beta of 0.60. The firm has a 50 day moving average of $53.09 and a two-hundred day moving average of $64.13.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Parsons will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Parsons

In other news, CEO Carey A. Smith acquired 12,500 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $49.97 per share, with a total value of $624,625.00. Following the transaction, the chief executive officer owned 575,376 shares in the company, valued at approximately $28,751,538.72. This trade represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George L. Ball acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $50.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the director owned 150,383 shares in the company, valued at approximately $7,519,150. The trade was a 7.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 32,500 shares of company stock valued at $1,637,325 in the last 90 days. Company insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Parsons

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parsons during the 4th quarter worth $25,000. Danske Bank A S purchased a new stake in shares of Parsons during the 4th quarter worth $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Parsons during the 4th quarter worth $32,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Parsons during the 3rd quarter worth $40,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Parsons during the 4th quarter worth $41,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Company Profile

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.