Parsons (NYSE:PSN) Upgraded at Zacks Research

Zacks Research upgraded shares of Parsons (NYSE:PSN) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on PSN. UBS Group cut their price target on Parsons from $104.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Barclays dropped their target price on Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Citigroup dropped their target price on Parsons from $88.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. KeyCorp downgraded Parsons from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a report on Thursday, January 15th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.42.

Parsons Trading Up 1.0%

Shares of Parsons stock opened at $56.56 on Monday. The business has a fifty day simple moving average of $59.59 and a two-hundred day simple moving average of $70.18. Parsons has a 1 year low of $49.38 and a 1 year high of $89.50. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PSN. Mather Group LLC. bought a new position in shares of Parsons in the third quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parsons in the fourth quarter worth $25,000. Danske Bank A S bought a new position in shares of Parsons in the fourth quarter worth $31,000. Los Angeles Capital Management LLC bought a new position in shares of Parsons in the fourth quarter worth $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Parsons in the third quarter worth $40,000. Institutional investors own 98.02% of the company’s stock.

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.