Parsons Corporation (NYSE:PSN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Parsons Corporation (NYSE:PSN) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $83.4167.

Several equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. Zacks Research downgraded shares of Parsons from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and cut their price objective for the company from $90.00 to $75.00 in a research report on Wednesday, December 10th. Robert W. Baird reduced their target price on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Finally, KeyCorp decreased their target price on Parsons from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th.

Parsons Stock Performance

PSN opened at $52.57 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 stock’s 50 day moving average price is $66.59 and its two-hundred day moving average price is $73.87. The firm has a market capitalization of $5.56 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. Parsons has a 12-month low of $52.37 and a 12-month high of $89.50.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). Parsons had a return on equity of 11.81% and a net margin of 3.79%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities analysts forecast that Parsons will post 3.58 earnings per share for the current year.

Institutional Trading of Parsons

Several institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Parsons in the third quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parsons during the fourth quarter worth $25,000. Danske Bank A S bought a new stake in Parsons in the 4th quarter valued at $31,000. Los Angeles Capital Management LLC bought a new stake in Parsons in the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Parsons in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Company Profile

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.