Parsons (NYSE:PSN) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of Parsons (NYSE:PSN) from a market perform rating to an outperform rating in a report issued on Thursday morning, Marketbeat reports.

PSN has been the topic of several other reports. KeyCorp raised their price objective on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Robert W. Baird raised their price target on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Truist Financial upped their price objective on Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a research report on Wednesday, October 8th. Finally, Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.82.

Parsons Stock Down 1.5%

PSN stock opened at $82.08 on Thursday. The business’s 50-day moving average price is $83.35 and its 200-day moving average price is $76.35. The stock has a market cap of $8.74 billion, a P/E ratio of 37.65, a PEG ratio of 4.31 and a beta of 0.62. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46. Parsons has a twelve month low of $54.56 and a twelve month high of $101.92.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Parsons has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Parsons will post 3.58 EPS for the current year.

Hedge Funds Weigh In On Parsons

Several institutional investors have recently added to or reduced their stakes in PSN. Mather Group LLC. purchased a new stake in shares of Parsons during the 3rd quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Parsons in the third quarter valued at $40,000. True Wealth Design LLC increased its position in Parsons by 63.9% in the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. Signaturefd LLC raised its stake in Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after purchasing an additional 236 shares in the last quarter. Finally, Banque Transatlantique SA bought a new position in Parsons during the first quarter valued at $34,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

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.