Parsons (NYSE:PSN) Stock Rating Upgraded by William Blair

Parsons (NYSE:PSN) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

PSN has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. KeyCorp upped their price target on Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.82.

Parsons Trading Down 0.3%

Shares of Parsons stock opened at $81.78 on Thursday. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 4.24 and a beta of 0.62. Parsons has a 1 year low of $54.56 and a 1 year high of $101.92. The company’s fifty day simple moving average is $83.45 and its 200-day simple moving average is $76.49. 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) last released its earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Parsons has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Parsons will post 3.58 EPS for the current year.

Institutional Investors Weigh In On Parsons

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Parsons by 10.7% in the 3rd quarter. Captrust Financial Advisors now owns 18,902 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,828 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Parsons by 16.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 31,416 shares of the company’s stock valued at $2,574,000 after buying an additional 4,540 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Parsons during the third quarter worth about $1,309,000. Alyeska Investment Group L.P. acquired a new stake in shares of Parsons during the third quarter worth approximately $38,880,000. Finally, Verition Fund Management LLC increased its holdings in shares of Parsons by 256.8% during the third quarter. Verition Fund Management LLC now owns 148,701 shares of the company’s stock worth $12,330,000 after buying an additional 107,020 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.