Parsons Corporation (NYSE:PSN) Receives $81.25 Consensus PT from Analysts

Parsons Corporation (NYSE:PSN) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $81.25.

Several equities research analysts recently issued reports on the stock. Bank of America decreased their price target on shares of Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, December 30th. Zacks Research lowered shares of Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Barclays decreased their price target on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Stifel Nicolaus dropped their price objective on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a report on Friday, March 27th.

Parsons Trading Up 3.2%

Shares of Parsons stock opened at $58.03 on Monday. The firm has a market capitalization of $6.14 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.73. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $60.88 and its 200 day moving average is $71.03. Parsons has a 1 year low of $49.38 and a 1 year high of $89.50.

Parsons (NYSE:PSN) last announced its quarterly 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 company had revenue of $1.60 billion for 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 company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts forecast that Parsons will post 3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PSN. Swedbank AB raised its holdings in Parsons by 654.7% in the 4th quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock valued at $65,047,000 after buying an additional 913,079 shares during the last quarter. AQR Capital Management LLC raised its holdings in Parsons by 151.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in Parsons in the 2nd quarter valued at approximately $45,653,000. Norges Bank bought a new position in Parsons in the 2nd quarter valued at approximately $37,131,000. Finally, Brown Advisory Inc. raised its holdings in Parsons by 142.1% in the 4th quarter. Brown Advisory Inc. now owns 833,322 shares of the company’s stock valued at $51,499,000 after buying an additional 489,187 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

About Parsons

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.