Parsons Co. (NYSE:PSN) Receives $99.00 Consensus Price Target from Brokerages

Parsons Co. (NYSE:PSN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $99.00.

A number of analysts have recently commented on PSN shares. Benchmark boosted their price target on Parsons from $68.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Truist Financial restated a "buy" rating and issued a $108.00 target price (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird raised their price target on shares of Parsons from $89.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Raymond James lowered shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 23rd. Finally, KeyCorp raised their target price on shares of Parsons from $99.00 to $116.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th.

Parsons Stock Up 0.5 %

Shares of PSN traded up $0.48 on Monday, hitting $104.69. The company's stock had a trading volume of 673,073 shares, compared to its average volume of 888,302. The firm's fifty day moving average price is $100.56 and its 200-day moving average price is $87.18. Parsons has a fifty-two week low of $55.38 and a fifty-two week high of $109.55. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 242.68, a P/E/G ratio of 2.24 and a beta of 0.80.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.18. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. On average, equities research analysts expect that Parsons will post 2.89 EPS for the current year.

Hedge Funds Weigh In On Parsons

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in Parsons in the 3rd quarter valued at $33,000. Tanglewood Legacy Advisors LLC acquired a new position in shares of Parsons during the 2nd quarter worth approximately $44,000. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons during the third quarter worth approximately $72,000. Blue Trust Inc. raised its position in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock valued at $86,000 after buying an additional 199 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of Parsons by 17.2% in the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company's stock valued at $111,000 after buying an additional 196 shares during the period. 98.02% of the stock is 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.