Parsons Co. (NYSE:PSN) Receives $83.10 Average Price Target from Analysts

Parsons Co. (NYSE:PSN) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $83.10.

PSN has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price target on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial raised their price objective on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $82.00 to $95.00 in a research report on Wednesday, May 1st. Finally, Robert W. Baird boosted their price target on shares of Parsons from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in Parsons in the 3rd quarter worth about $38,000. TFO Wealth Partners LLC boosted its stake in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after buying an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Parsons in the first quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel increased its position in shares of Parsons by 700.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after acquiring an additional 973 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Parsons by 126.0% during the third quarter. Covestor Ltd now owns 1,521 shares of the company’s stock worth $83,000 after acquiring an additional 848 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Stock Down 0.8 %

Shares of NYSE PSN opened at $77.60 on Monday. The stock has a 50-day moving average price of $80.76 and a two-hundred day moving average price of $70.32. Parsons has a 12 month low of $42.79 and a 12 month high of $85.44. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 431.14, a PEG ratio of 2.92 and a beta of 0.86.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The firm’s revenue was up 36.4% compared to the same quarter last year. As a group, analysts forecast that Parsons will post 2.57 earnings per share for the current fiscal year.

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.