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

Parsons Co. (NYSE:PSN) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $107.33.

PSN has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, TD Cowen dropped their target price on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th.

Parsons Trading Down 1.5 %

Shares of Parsons stock opened at $76.81 on Wednesday. The firm has a 50-day simple moving average of $90.70 and a two-hundred day simple moving average of $96.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons has a fifty-two week low of $67.18 and a fifty-two week high of $114.68. The company has a market cap of $8.16 billion, a P/E ratio of 116.38, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73.

Institutional Investors Weigh In On Parsons

A number of hedge funds have recently modified their holdings of PSN. ORG Wealth Partners LLC purchased a new stake in Parsons during the 4th quarter valued at about $26,000. GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Parsons in the third quarter valued at approximately $33,000. Finally, Principal Securities Inc. purchased a new position in Parsons during the fourth quarter worth approximately $33,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.