Parsons’ (PSN) “Neutral” Rating Reaffirmed at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Parsons (NYSE:PSN) in a research report released on Monday, MarketBeat reports. The brokerage currently has a $60.00 target price on the stock.

PSN has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Friday, March 27th. Bank of America lowered their target price on Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, December 30th. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a report on Thursday, January 15th. KeyCorp lowered their target price on Parsons from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group lowered their target price on Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and an average target price of $79.42.

Parsons Trading Up 0.2%

Shares of PSN stock opened at $56.11 on Monday. The business’s fifty day moving average price is $60.08 and its 200 day moving average price is $70.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $5.94 billion, a PE ratio of 25.51, a P/E/G ratio of 1.75 and a beta of 0.73. Parsons has a 1-year low of $49.38 and a 1-year high of $89.50.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. As a group, sell-side analysts forecast that Parsons will post 3.58 EPS for the current fiscal year.

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Parsons by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,077,310 shares of the company’s stock valued at $421,011,000 after acquiring an additional 130,694 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Parsons by 6.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,477,159 shares of the company’s stock valued at $153,088,000 after acquiring an additional 145,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Parsons by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,712,937 shares of the company’s stock valued at $105,863,000 after acquiring an additional 30,351 shares in the last quarter. Channing Capital Management LLC lifted its position in shares of Parsons by 16.8% in the fourth quarter. Channing Capital Management LLC now owns 1,484,039 shares of the company’s stock valued at $91,714,000 after acquiring an additional 213,312 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after acquiring an additional 639,481 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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.