Parsons (NYSE:PSN) Sets New 1-Year High at $38.39

Parsons Corp (NYSE:PSN) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.39 and last traded at $38.01, with a volume of 270182 shares changing hands. The stock had previously closed at $37.67.

A number of brokerages have issued reports on PSN. Bank of America reaffirmed a “buy” rating and set a $25.00 price objective on shares of Infineon Technologies in a report on Monday, June 3rd. Cowen reaffirmed a “buy” rating on shares of G1 Therapeutics in a report on Tuesday, June 18th. Wells Fargo & Co raised shares of Centurylink from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $14.00 in a report on Wednesday, June 26th. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of WPP in a report on Monday, June 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Parsons currently has a consensus rating of “Buy” and a consensus price target of $37.86.

The firm’s fifty day simple moving average is $34.76.

Parsons (NYSE:PSN) last posted its earnings results on Saturday, May 18th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.44. The business had revenue of $904.41 million during the quarter, compared to analysts’ expectations of $884.47 million. Equities analysts predict that Parsons Corp will post 1.7 EPS for the current fiscal year.

In other Parsons news, CFO George L. Ball bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $29.40 per share, with a total value of $735,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

About Parsons (NYSE:PSN)

Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.

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