Parsons Co. (NYSE:PSN) Receives Average Rating of “Hold” from Analysts

Parsons Co. (NYSE:PSNGet Rating) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $39.75.

Several analysts have commented on PSN shares. Zacks Investment Research upgraded Parsons from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Bank of America upgraded Parsons from an “underperform” rating to a “neutral” rating and set a $39.00 price target on the stock in a research note on Friday, March 11th. TheStreet upgraded Parsons from a “c+” rating to a “b-” rating in a research note on Thursday, March 17th. The Goldman Sachs Group raised their price target on Parsons from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Raymond James began coverage on Parsons in a research note on Friday, March 4th. They issued an “outperform” rating and a $43.00 price target on the stock.

Shares of PSN opened at $39.68 on Friday. The business’s fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $34.71. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.31. Parsons has a 12 month low of $29.25 and a 12 month high of $45.01. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 67.25, a P/E/G ratio of 3.85 and a beta of 1.00.

Parsons (NYSE:PSNGet Rating) last issued its earnings results on Tuesday, February 22nd. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Parsons had a return on equity of 8.29% and a net margin of 1.75%. The business had revenue of $950.67 million for the quarter, compared to the consensus estimate of $944.19 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Parsons will post 1.7 EPS for the current year.

In related news, CFO George L. Ball bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average cost of $33.40 per share, with a total value of $1,336,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in PSN. Allspring Global Investments Holdings LLC bought a new position in Parsons in the 4th quarter worth $52,473,000. Mackenzie Financial Corp raised its holdings in Parsons by 15.8% during the third quarter. Mackenzie Financial Corp now owns 2,980,276 shares of the company’s stock valued at $100,614,000 after acquiring an additional 407,437 shares during the period. Norges Bank bought a new stake in Parsons during the fourth quarter valued at about $13,644,000. Morgan Stanley raised its holdings in Parsons by 37.3% during the second quarter. Morgan Stanley now owns 860,025 shares of the company’s stock valued at $33,850,000 after acquiring an additional 233,479 shares during the period. Finally, Legal & General Group Plc raised its holdings in Parsons by 20.0% during the fourth quarter. Legal & General Group Plc now owns 994,495 shares of the company’s stock valued at $33,465,000 after acquiring an additional 165,623 shares during the period.

About Parsons (Get Rating)

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.

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Analyst Recommendations for Parsons (NYSE:PSN)

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