Parsons Co. (NYSE:PSN) Receives $83.10 Consensus Price Target from Brokerages

Parsons Co. (NYSE:PSN) has been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $85.50.

PSN has been the subject of several research reports. KeyCorp increased their price target on shares of Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial lifted their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Stifel Nicolaus increased their price objective on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. The Goldman Sachs Group boosted their target price on Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th.

Institutional Investors Weigh In On Parsons

Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new stake in Parsons during the third quarter valued at $38,000. TFO Wealth Partners LLC grew its holdings in shares of Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Parsons in the first quarter worth approximately $62,000. Psagot Value Holdings Ltd. Israel raised its stake in Parsons by 700.0% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after purchasing an additional 973 shares in the last quarter. Finally, Covestor Ltd raised its stake in Parsons by 126.0% in the third quarter. Covestor Ltd now owns 1,521 shares of the company’s stock valued at $83,000 after purchasing an additional 848 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

Shares of NYSE PSN opened at $81.81 on Tuesday. The company has a market capitalization of $12.01 billion, a PE ratio of 454.53, a PEG ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $77.69 and its 200-day moving average price is $74.44. Parsons has a twelve month low of $46.85 and a twelve month high of $85.44.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. On average, equities analysts anticipate that Parsons will post 2.64 EPS for the current year.

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.