Parsons (NYSE:PSN) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Parsons (NYSE:PSN – Get Rating) in a research report report published on Thursday, Benzinga reports. They currently have a $51.00 price target on the stock.

Several other research firms have also recently weighed in on PSN. Robert W. Baird began coverage on shares of Parsons in a report on Wednesday, December 21st. They set a neutral rating and a $50.00 price target on the stock. Cowen boosted their price target on shares of Parsons to $51.00 in a report on Wednesday, November 16th. Morgan Stanley cut their price target on shares of Parsons from $40.00 to $39.00 and set an underweight rating on the stock in a report on Thursday, February 16th. Finally, Bank of America cut shares of Parsons from a neutral rating to an underperform rating and boosted their price target for the stock from $43.00 to $49.00 in a report on Thursday, December 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of Hold and a consensus price target of $49.13.

Parsons Trading Down 2.6 %

NYSE:PSN opened at $40.89 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a 50-day moving average of $44.10 and a 200-day moving average of $44.51. The company has a market cap of $4.28 billion, a PE ratio of 46.47, a PEG ratio of 1.97 and a beta of 0.84. Parsons has a one year low of $34.46 and a one year high of $50.15.

Parsons (NYSE:PSN – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Parsons had a return on equity of 8.47% and a net margin of 2.30%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. As a group, equities research analysts expect that Parsons will post 1.98 EPS for the current fiscal year.

Institutional Trading of Parsons

Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Parsons during the 3rd quarter valued at approximately $25,000. Sargent Bickham Lagudis LLC purchased a new stake in shares of Parsons during the 4th quarter valued at approximately $32,000. Group One Trading L.P. purchased a new stake in shares of Parsons during the 1st quarter valued at approximately $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Parsons during the 3rd quarter valued at approximately $32,000. Finally, Rebalance LLC purchased a new stake in shares of Parsons during the 4th quarter valued at approximately $46,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Company Profile

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Parsons Corp. engages in the provision of engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers.