Brokerages Set Parsons Corporation (NYSE:PSN) PT at $90.80

Shares of Parsons Corporation (NYSE:PSN) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $90.80.

PSN has been the topic of several recent research reports. Robert W. Baird boosted their target price on Parsons from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Jefferies Financial Group raised their target price on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Finally, Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th.

Parsons Stock Down 2.2%

NYSE PSN opened at $84.16 on Monday. The company has a market cap of $8.99 billion, a P/E ratio of 37.57, a P/E/G ratio of 4.52 and a beta of 0.64. The business has a fifty day moving average price of $80.74 and a 200 day moving average price of $72.69. Parsons has a one year low of $54.56 and a one year high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. Research analysts anticipate that Parsons will post 3.58 EPS for the current fiscal year.

Institutional Trading of Parsons

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its stake in shares of Parsons by 1,803.4% in the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after acquiring an additional 523 shares during the last quarter. UMB Bank n.a. increased its position in shares of Parsons by 238.7% during the 1st quarter. UMB Bank n.a. now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 389 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Parsons during the 1st quarter worth about $34,000. True Wealth Design LLC increased its position in shares of Parsons by 63.9% during the 2nd 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. Finally, Signaturefd LLC increased its position in shares of Parsons by 63.1% during the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after purchasing an additional 236 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

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.