Parsons Co. (NYSE:PSN) Short Interest Down 19.1% in August

Parsons Co. (NYSE:PSN) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,280,000 shares, a decline of 19.1% from the August 15th total of 2,820,000 shares. Based on an average daily trading volume, of 871,900 shares, the short-interest ratio is currently 2.6 days.

Institutional Trading of Parsons

Several institutional investors have recently made changes to their positions in the company. Tanglewood Legacy Advisors LLC purchased a new stake in Parsons in the 2nd quarter valued at about $44,000. TFO Wealth Partners LLC boosted its holdings in Parsons by 18,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after acquiring an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Parsons in the 1st quarter valued at about $62,000. Blue Trust Inc. increased its stake in Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Parsons during the fourth quarter worth about $91,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSN. KeyCorp raised their price objective on Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Benchmark lifted their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $94.67.

Parsons Trading Down 0.2 %

Parsons stock traded down $0.16 during trading on Tuesday, reaching $97.60. 581,643 shares of the company were exchanged, compared to its average volume of 863,848. The stock’s 50 day simple moving average is $88.54 and its two-hundred day simple moving average is $82.58. The company has a market capitalization of $10.36 billion, a P/E ratio of 543.36, a PEG ratio of 2.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. Parsons has a 52-week low of $53.56 and a 52-week high of $100.08.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, equities research analysts expect that Parsons will post 2.88 earnings per share for the current fiscal year.

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.