Brokerages Set Parsons Co. (NYSE:PSN) Target Price at $104.88

Parsons Co. (NYSE:PSN) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $105.13.

A number of equities analysts have issued reports on the company. Benchmark increased their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a report on Wednesday, October 23rd. Truist Financial dropped their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Robert W. Baird boosted their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st.

Parsons Trading Down 0.5 %

PSN opened at $95.86 on Friday. Parsons has a twelve month low of $61.10 and a twelve month high of $114.68. The company has a fifty day moving average of $104.69 and a 200-day moving average of $91.28. The stock has a market cap of $10.18 billion, a PE ratio of 145.24, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, sell-side analysts predict that Parsons will post 3.02 EPS for the current year.

Hedge Funds Weigh In On Parsons

A number of hedge funds have recently added to or reduced their stakes in PSN. Franklin Resources Inc. raised its stake in shares of Parsons by 11.8% in the third quarter. Franklin Resources Inc. now owns 601,071 shares of the company’s stock worth $64,813,000 after purchasing an additional 63,657 shares during the last quarter. Tidal Investments LLC grew its holdings in Parsons by 140.9% during the third quarter. Tidal Investments LLC now owns 7,214 shares of the company’s stock worth $748,000 after buying an additional 4,220 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Parsons by 42.2% during the third quarter. TD Private Client Wealth LLC now owns 1,512 shares of the company’s stock worth $157,000 after buying an additional 449 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Parsons in the 3rd quarter valued at $850,000. Finally, Geode Capital Management LLC lifted its stake in Parsons by 14.0% during the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after acquiring an additional 95,040 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Company Profile

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.