Analysts Set Parsons Co. (NYSE:PSN) Target Price at $76.89

Parsons Co. (NYSE:PSN) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $77.78.

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Parsons in a research note on Thursday, April 4th. Robert W. Baird upped their target price on shares of Parsons from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. KeyCorp upped their target price on shares of Parsons from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, Truist Financial upped their target price on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th.

Institutional Investors Weigh In On Parsons

Several institutional investors and hedge funds have recently bought and sold shares of PSN. Raymond James & Associates raised its stake in Parsons by 36.5% during the first quarter. Raymond James & Associates now owns 15,876 shares of the company’s stock worth $614,000 after acquiring an additional 4,243 shares during the period. Group One Trading L.P. bought a new position in Parsons in the 1st quarter worth about $27,000. HighTower Advisors LLC bought a new position in Parsons in the 1st quarter worth about $242,000. MetLife Investment Management LLC grew its position in Parsons by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 15,664 shares of the company’s stock worth $606,000 after purchasing an additional 5,504 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Parsons by 45.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock worth $26,827,000 after purchasing an additional 216,326 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN stock opened at $78.56 on Thursday. Parsons has a 12 month low of $42.22 and a 12 month high of $85.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.52. The firm has a market capitalization of $8.31 billion, a P/E ratio of 55.32, a P/E/G ratio of 3.53 and a beta of 0.85. The company’s fifty day moving average price is $79.60 and its two-hundred day moving average price is $68.02.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue was up 36.4% compared to the same quarter last year. On average, research analysts anticipate that Parsons will post 2.55 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.