Brokerages Set Parsons Co. (NYSE:PSN) PT at $108.88

Parsons Co. (NYSE:PSN) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $108.88.

Several equities analysts have weighed in on the company. KeyCorp lifted their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. Robert W. Baird lifted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. TD Cowen raised shares of Parsons to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd.

Parsons Stock Down 2.0 %

PSN stock opened at $93.81 on Tuesday. The company’s 50 day simple moving average is $102.14 and its 200-day simple moving average is $93.70. Parsons has a 52-week low of $61.35 and a 52-week high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $9.96 billion, a P/E ratio of 142.14, a P/E/G ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts anticipate that Parsons will post 3.02 EPS for the current year.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently made changes to their positions in PSN. True Wealth Design LLC acquired a new position in shares of Parsons during the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in Parsons during the third quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new position in Parsons during the third quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the third quarter worth $72,000. Finally, Blue Trust Inc. boosted its holdings in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.