Parsons Co. (NYSE:PSN) Receives $108.88 Consensus Target Price from Analysts

Parsons Co. (NYSE:PSN - Get Free Report) has been given an average rating of "Buy" by the eight analysts that are currently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $108.88.

PSN has been the subject of several research reports. Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Truist Financial dropped their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. KeyCorp raised their target price on shares of Parsons from $116.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Raymond James downgraded shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 price target for the company. in a research note on Wednesday, October 23rd.

Parsons Price Performance

NYSE:PSN traded down $1.59 on Tuesday, reaching $96.33. The stock had a trading volume of 650,437 shares, compared to its average volume of 902,795. The stock has a fifty day moving average price of $102.82 and a 200-day moving average price of $93.26. Parsons has a 1-year low of $61.35 and a 1-year high of $114.68. The company has a market capitalization of $10.23 billion, a P/E ratio of 145.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. 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 (NYSE:PSN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Research analysts forecast that Parsons will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of Parsons in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Parsons in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP bought a new stake in shares of Parsons in the third quarter valued at about $45,000. DekaBank Deutsche Girozentrale bought a new position in shares of Parsons during the third quarter worth about $72,000. Finally, Blue Trust Inc. raised its position in Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock valued at $86,000 after buying an additional 199 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

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.