Parsons Co. (NYSE:PSN) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Parsons Co. (NYSE:PSN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $107.33.

PSN has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Parsons from a "neutral" rating to a "buy" rating and lifted their target price for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. William Blair lowered Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 23rd. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. TD Cowen lowered their price objective on shares of Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group cut their target price on shares of Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th.

Institutional Investors Weigh In On Parsons

A number of institutional investors and hedge funds have recently modified their holdings of PSN. ORG Wealth Partners LLC purchased a new stake in shares of Parsons in the 4th quarter valued at $26,000. GAMMA Investing LLC grew its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after acquiring an additional 218 shares during the period. True Wealth Design LLC purchased a new position in shares of Parsons in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the 3rd quarter worth about $33,000. Finally, Principal Securities Inc. purchased a new position in Parsons during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Parsons Stock Performance

PSN traded down $1.16 during mid-day trading on Wednesday, reaching $76.81. 1,320,008 shares of the company traded hands, compared to its average volume of 1,330,437. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 52-week low of $67.18 and a 52-week high of $114.68. The stock has a market capitalization of $8.16 billion, a P/E ratio of 116.38, a P/E/G ratio of 1.17 and a beta of 0.73. The company's fifty day moving average price is $90.70 and its 200-day moving average price is $96.24.

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.