Parsons Co. (NYSE:PSN) Given Average Recommendation of “Hold” by Analysts

Shares of Parsons Co. (NYSE:PSNGet Rating) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $42.00.

A number of equities research analysts recently weighed in on PSN shares. TheStreet upgraded shares of Parsons from a “c+” rating to a “b-” rating in a research note on Tuesday, July 19th. Morgan Stanley lifted their target price on Parsons from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Raymond James lifted their target price on Parsons from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Benchmark lifted their target price on Parsons to $46.00 in a report on Tuesday, August 9th.

Insider Buying and Selling at Parsons

In other Parsons news, CFO George L. Ball acquired 70,000 shares of Parsons stock in a transaction on Friday, August 5th. The shares were bought at an average price of $41.50 per share, with a total value of $2,905,000.00. Following the completion of the purchase, the chief financial officer now owns 122,857 shares in the company, valued at $5,098,565.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Parsons

Several hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its position in shares of Parsons by 18.0% in the second quarter. Captrust Financial Advisors now owns 3,945 shares of the company’s stock valued at $159,000 after buying an additional 602 shares during the last quarter. Jane Street Group LLC lifted its holdings in Parsons by 326.2% during the 2nd quarter. Jane Street Group LLC now owns 38,172 shares of the company’s stock worth $1,543,000 after buying an additional 29,215 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Parsons by 56.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after purchasing an additional 1,420,028 shares during the period. PDT Partners LLC acquired a new position in shares of Parsons in the 2nd quarter valued at about $2,389,000. Finally, Cubist Systematic Strategies LLC raised its stake in Parsons by 55.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,308 shares of the company’s stock worth $1,993,000 after buying an additional 17,600 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

Parsons Stock Down 2.2 %

PSN stock opened at $41.15 on Wednesday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.83. Parsons has a 12 month low of $29.25 and a 12 month high of $43.84. The company has a fifty day moving average price of $41.73 and a 200 day moving average price of $39.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.44.

Parsons (NYSE:PSNGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Parsons had a net margin of 2.26% and a return on equity of 9.05%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $930.97 million. During the same quarter last year, the firm posted $0.29 earnings per share. Parsons’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Parsons will post 1.69 earnings per share for the current year.

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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