Parsons Co. (NYSE:PSN) Receives $99.44 Average Price Target from Brokerages

Parsons Co. (NYSE:PSN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $99.44.

A number of equities research analysts have recently commented on PSN shares. TD Cowen lowered Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a research report on Friday, February 21st. Benchmark reissued a "buy" rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Robert W. Baird dropped their target price on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. KeyCorp dropped their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Hedge Funds Weigh In On Parsons

Hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Parsons during the fourth quarter worth about $5,144,000. Polar Asset Management Partners Inc. lifted its stake in Parsons by 117.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 79,305 shares of the company's stock worth $7,316,000 after purchasing an additional 42,805 shares during the last quarter. Pullen Investment Management LLC lifted its stake in Parsons by 46.5% during the fourth quarter. Pullen Investment Management LLC now owns 17,133 shares of the company's stock worth $1,581,000 after purchasing an additional 5,438 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Parsons by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company's stock worth $1,587,000 after purchasing an additional 194 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Parsons during the fourth quarter worth about $1,231,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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Parsons Trading Up 1.6 %

PSN traded up $0.90 during midday trading on Friday, reaching $58.41. 1,969,135 shares of the company were exchanged, compared to its average volume of 1,630,589. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons has a one year low of $54.56 and a one year high of $114.68. The stock has a market capitalization of $6.24 billion, a P/E ratio of 76.85, a PEG ratio of 0.93 and a beta of 0.78. The stock's 50-day simple moving average is $80.02 and its 200 day simple moving average is $93.34.

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.