Parsons Co. (NYSE:PSN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Parsons Co. (NYSE:PSN) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $107.33.

A number of research firms have issued reports on PSN. Jefferies Financial Group reduced their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. William Blair lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group raised 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 report on Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Parsons in the 3rd quarter valued at about $2,172,000. Oppenheimer & Co. Inc. raised its holdings in Parsons by 37.7% in the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after buying an additional 6,577 shares during the period. Aigen Investment Management LP acquired a new position in Parsons during the third quarter valued at approximately $1,004,000. Geode Capital Management LLC grew its stake in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after buying an additional 95,040 shares during the period. Finally, State Street Corp increased its position in shares of Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 0.8 %

Shares of NYSE:PSN opened at $76.91 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.17 billion, a P/E ratio of 116.54, a P/E/G ratio of 1.17 and a beta of 0.73. Parsons has a 52-week low of $65.45 and a 52-week high of $114.68. The stock’s fifty day simple moving average is $91.06 and its 200-day simple moving average is $96.11.

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.