Parsons Corporation (NYSE:PSN) Receives $83.42 Average Price Target from Analysts

by · The Cerbat Gem

Parsons Corporation (NYSE:PSN – Get Free Report) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. One 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 analysts that have issued ratings on the stock in the last year is $83.4167.

A number of analysts have issued reports on PSN shares. Citigroup boosted their target price on Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Robert W. Baird dropped their price objective on Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. Truist Financial reissued a “buy” rating and set a $85.00 target price (down from $90.00) on shares of Parsons in a research note on Thursday, February 12th. Finally, Zacks Research cut Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th.

Check Out Our Latest Stock Report on Parsons

Institutional Trading of Parsons

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Parsons by 38.0% in the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after purchasing an additional 264 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after buying an additional 1,024 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Parsons in the 2nd quarter valued at approximately $228,000. Savant Capital LLC boosted its position in Parsons by 135.1% in the 2nd quarter. Savant Capital LLC now owns 25,528 shares of the company’s stock valued at $1,832,000 after buying an additional 14,670 shares during the period. Finally, AE Wealth Management LLC grew its stake in shares of Parsons by 10.5% in the second quarter. AE Wealth Management LLC now owns 8,458 shares of the company’s stock worth $607,000 after acquiring an additional 802 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Down 3.4%

Parsons stock opened at $54.88 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. The stock has a 50-day moving average price of $66.87 and a 200 day moving average price of $74.11. Parsons has a 52 week low of $54.64 and a 52 week high of $89.50.

Parsons (NYSE:PSN – Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Parsons had a net margin of 3.79% and a return on equity of 11.81%. Parsons’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate 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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