Parsons Corporation (NYSE:PSN) Receives $85.46 Average PT from Analysts

by · The Markets Daily

Parsons Corporation (NYSE:PSN – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $85.0769.

A number of research firms recently weighed in on PSN. KeyCorp lowered their target price on shares of Parsons from $93.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Citigroup started coverage on Parsons in a report on Thursday, December 11th. They set a “buy” rating and a $86.00 price objective on the stock. Bank of America dropped their target price on Parsons from $95.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial decreased their price target on Parsons from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Finally, Stifel Nicolaus lowered their price target on Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 23rd.

Get Our Latest Research Report on PSN

Institutional Investors Weigh In On Parsons

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Parsons in the third quarter valued at about $25,000. Banque Transatlantique SA acquired a new stake in shares of Parsons during the first quarter worth approximately $34,000. True Wealth Design LLC raised its stake in shares of Parsons by 63.9% in 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. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Parsons in the 3rd quarter worth approximately $40,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Parsons by 38.0% in the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of NYSE PSN opened at $61.81 on Friday. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 3.23 and a beta of 0.65. Parsons has a one year low of $54.56 and a one year high of $97.91. The business has a fifty day simple moving average of $75.66 and a 200 day simple moving average of $77.07. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46.

Parsons (NYSE:PSN – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Sell-side analysts expect that Parsons will post 3.58 EPS for the current year.

About Parsons

(Get Free Report)

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.

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