Parsons Corporation (NYSE:PSN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Parsons Corporation (NYSE:PSN) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a 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 $83.9231.

PSN has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, December 8th. Bank of America lowered their price objective on shares of Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 30th. Citigroup boosted their target price on shares of Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Zacks Research lowered shares of Parsons from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Truist Financial reiterated a “buy” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Parsons in a research note on Thursday, February 12th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Swedbank AB increased its holdings in Parsons by 654.7% in the 4th quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock worth $65,047,000 after acquiring an additional 913,079 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Parsons by 72.5% in the second quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock worth $135,594,000 after purchasing an additional 793,807 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock worth $75,173,000 after purchasing an additional 639,481 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Parsons in the second quarter valued at approximately $45,653,000. Finally, Norges Bank purchased a new stake in shares of Parsons during the 2nd quarter valued at approximately $37,131,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Trading Down 0.6%

NYSE:PSN opened at $65.52 on Friday. Parsons has a 52 week low of $54.56 and a 52 week high of $89.50. The firm has a 50-day moving average price of $66.46 and a two-hundred day moving average price of $75.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 3.80 and a beta of 0.66.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. On average, equities analysts expect that Parsons will post 3.58 earnings per share for the current fiscal year.

Parsons Company Profile

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.