Parsons Co. (NYSE:PSN) Given Average Recommendation of "Moderate Buy" by 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.com 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 12 month target price among brokerages that have covered the stock in the last year is $99.44.

PSN has been the topic of a number of recent analyst reports. Raymond James cut shares of Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Benchmark restated a "buy" rating and set a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. TD Cowen cut Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a report on Friday, February 21st. Finally, Robert W. Baird decreased their price target on Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th.

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently bought and sold shares of PSN. Thrivent Financial for Lutherans purchased a new position in shares of Parsons in the third quarter worth approximately $1,138,000. Cerity Partners LLC purchased a new position in Parsons during the 3rd quarter worth approximately $759,000. Fisher Asset Management LLC raised its stake in Parsons by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock valued at $452,000 after purchasing an additional 90 shares during the period. Qsemble Capital Management LP lifted its holdings in shares of Parsons by 41.7% in the third quarter. Qsemble Capital Management LP now owns 8,970 shares of the company's stock valued at $930,000 after purchasing an additional 2,638 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Parsons by 110.4% in the third quarter. The Manufacturers Life Insurance Company now owns 54,933 shares of the company's stock worth $5,695,000 after buying an additional 28,820 shares during the period. Institutional investors and hedge funds own 98.02% of the company's stock.

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Parsons Stock Performance

Shares of NYSE PSN traded down $1.18 during midday trading on Thursday, hitting $59.37. 599,098 shares of the company's stock were exchanged, compared to its average volume of 1,031,276. Parsons has a twelve month low of $54.56 and a twelve month high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The firm has a market cap of $6.34 billion, a P/E ratio of 78.12, a PEG ratio of 0.93 and a beta of 0.78. The stock's 50 day moving average price is $68.59 and its 200-day moving average price is $89.12.

Parsons declared that its board has authorized a share buyback plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.