Parsons Co. (NYSE:PSN) Given Average Rating of “Buy” by Analysts

Shares of Parsons Co. (NYSE:PSN) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $94.67.

Several equities analysts have weighed in on PSN shares. Stifel Nicolaus raised their price objective on Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. KeyCorp boosted their price target on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Benchmark increased their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird upped their target price on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a report on Thursday, August 1st.

Institutional Investors Weigh In On Parsons

Several large investors have recently added to or reduced their stakes in PSN. Tanglewood Legacy Advisors LLC bought a new position in Parsons during the second quarter worth about $44,000. TFO Wealth Partners LLC boosted its holdings in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after buying an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parsons in the 1st quarter worth approximately $62,000. Psagot Value Holdings Ltd. Israel raised its holdings in Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after acquiring an additional 973 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Up 2.9 %

Shares of NYSE PSN opened at $98.22 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. Parsons has a 1 year low of $53.56 and a 1 year high of $98.63. The stock has a market capitalization of $14.41 billion, a P/E ratio of 545.67, a P/E/G ratio of 2.06 and a beta of 0.80. The company has a 50-day moving average price of $88.16 and a 200-day moving average price of $82.45.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, equities research analysts forecast that Parsons will post 2.88 EPS for the current fiscal year.

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.