Brokerages Set Parsons Co. (NYSE:PSN) Price Target at $108.88

Parsons Co. (NYSE:PSN) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $108.88.

A number of research firms have issued reports on PSN. Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp increased their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen raised Parsons to a “strong-buy” rating in a research note on Thursday, December 19th. Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th.

Parsons Trading Down 2.0 %

Shares of NYSE PSN opened at $93.81 on Tuesday. Parsons has a 12-month low of $61.35 and a 12-month high of $114.68. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 142.14, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $102.14 and its 200 day simple moving average is $93.70.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. Equities research analysts expect that Parsons will post 3.02 EPS for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently bought and sold shares of PSN. True Wealth Design LLC bought a new stake in shares of Parsons in the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the third quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new position in shares of Parsons in the third quarter valued at $45,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons during the 3rd quarter valued at $72,000. Finally, Blue Trust Inc. boosted its stake in shares of Parsons by 23.6% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.