Parsons Corporation (NYSE:PSN) Receives Average Rating of “Moderate Buy” from Analysts

Parsons Corporation (NYSE:PSN) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $83.9231.

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. KeyCorp cut their target price on shares of Parsons from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and lowered their price target for the company from $90.00 to $75.00 in a research report on Wednesday, December 10th. Citigroup lifted their price target on Parsons from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, Truist Financial reiterated a “buy” rating and set a $85.00 price objective (down from $90.00) on shares of Parsons in a research report on Thursday.

Institutional Trading of Parsons

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB lifted its holdings in Parsons by 654.7% during the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock valued at $65,047,000 after purchasing an additional 913,079 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Parsons by 72.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after purchasing an additional 793,807 shares during the period. AQR Capital Management LLC lifted its stake in shares of Parsons by 151.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Parsons during the 2nd quarter valued at $45,653,000. Finally, Norges Bank bought a new position in Parsons in the 2nd quarter worth $37,131,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Stock Up 1.1%

Shares of NYSE:PSN opened at $63.36 on Friday. Parsons has a 1 year low of $54.56 and a 1 year high of $89.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.67. The business’s 50-day moving average is $66.55 and its 200-day moving average is $76.13. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 3.55 and a beta of 0.66.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). Parsons had a return on equity of 11.81% and a net margin of 3.79%.The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts predict that Parsons will post 3.58 earnings per share for the current year.

Parsons Company Profile

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.