Brokerages Set Parsons Co. (NYSE:PSN) PT at $104.88

Shares of Parsons Co. (NYSE:PSN) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $105.13.

Several equities analysts recently weighed in on PSN shares. Benchmark boosted their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird upped their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. KeyCorp upped their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday.

Hedge Funds Weigh In On Parsons

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC acquired a new position in Parsons in the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in shares of Parsons in the 3rd quarter worth approximately $33,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Parsons during the 2nd quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new position in shares of Parsons during the 3rd quarter worth approximately $45,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Parsons in the 3rd quarter valued at $72,000. 98.02% of the stock is owned by institutional investors.

Parsons Trading Down 0.3 %

NYSE:PSN opened at $99.05 on Friday. The company’s 50 day moving average is $104.86 and its 200-day moving average is $90.85. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 12 month low of $61.10 and a 12 month high of $114.68. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 150.08, a P/E/G ratio of 1.77 and a beta of 0.80.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Equities analysts anticipate that Parsons will post 3.02 EPS for the current year.

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.