Parsons Co. (NYSE:PSN) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Parsons Co. (NYSE:PSN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $108.25.

Several research firms have issued reports on PSN. The Goldman Sachs Group upgraded Parsons from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. KeyCorp lowered their price objective on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research report on Wednesday. Truist Financial cut their target price on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Finally, Raymond James cut Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Parsons Price Performance

Parsons stock traded up $1.03 during mid-day trading on Friday, hitting $92.89. The company's stock had a trading volume of 831,184 shares, compared to its average volume of 941,414. The stock has a market capitalization of $9.86 billion, a P/E ratio of 140.74, a P/E/G ratio of 1.72 and a beta of 0.74. Parsons has a twelve month low of $63.12 and a twelve month high of $114.68. The stock's fifty day moving average price is $97.76 and its two-hundred day moving average price is $95.19. 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 issued its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.63 billion. Research analysts forecast that Parsons will post 3.02 earnings per share for the current year.

Institutional Trading of Parsons

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in Parsons during the fourth quarter valued at approximately $26,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Parsons by 12.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,442 shares of the company's stock valued at $594,000 after purchasing an additional 735 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of Parsons by 48.8% in the 4th quarter. First Hawaiian Bank now owns 39,523 shares of the company's stock valued at $3,646,000 after purchasing an additional 12,964 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock worth $123,685,000 after purchasing an additional 183,117 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other 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.