Parsons (NYSE:PSN) Coverage Initiated by Analysts at UBS Group

Investment analysts at UBS Group initiated coverage on shares of Parsons (NYSE:PSN) in a research report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $107.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 30.36% from the company’s previous close.

Several other research analysts have also commented on the company. KeyCorp lifted their price target on Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Thursday. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Robert W. Baird raised their price objective on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $92.82.

Parsons Price Performance

Shares of PSN opened at $82.08 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.67 and a quick ratio of 1.67. Parsons has a 1-year low of $54.56 and a 1-year high of $101.92. The stock has a market cap of $8.74 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 4.31 and a beta of 0.62. The firm has a fifty day moving average price of $83.35 and a 200 day moving average price of $76.35.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Parsons has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Parsons will post 3.58 EPS for the current year.

Institutional Investors Weigh In On Parsons

A number of institutional investors and hedge funds have recently bought and sold shares of PSN. Mather Group LLC. acquired a new stake in Parsons during the 3rd quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Parsons in the third quarter valued at $40,000. True Wealth Design LLC boosted its stake in shares of Parsons by 63.9% during the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Parsons during the 1st quarter worth about $34,000. Finally, Penserra Capital Management LLC purchased a new stake in Parsons during the 3rd quarter worth about $59,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

About Parsons

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.