Parsons Corporation (NYSE:PSN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Parsons Corporation (NYSE:PSN) has received an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $75.8182.

A number of research analysts have recently weighed in on PSN shares. KeyCorp downgraded shares of Parsons from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 14th. BNP Paribas Exane set a $65.00 target price on shares of Parsons and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Citigroup raised their target price on Parsons from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Barclays reduced their price target on Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a report on Wednesday, July 8th.

Insiders Place Their Bets

In related news, Director Mark Keith Holdsworth bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $51.27 per share, with a total value of $512,700.00. Following the completion of the transaction, the director directly owned 39,918 shares of the company’s stock, valued at $2,046,595.86. This trade represents a 33.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carey A. Smith purchased 12,500 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the transaction, the chief executive officer owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 32,500 shares of company stock valued at $1,637,325 over the last 90 days. 1.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Parsons by 160.0% during the 2nd quarter. GAMMA Investing LLC now owns 949 shares of the company’s stock worth $50,000 after acquiring an additional 584 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Parsons by 183.6% in the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. Keel Point LLC acquired a new stake in shares of Parsons in the first quarter valued at about $218,000. Henshaw Capital LLC increased its stake in shares of Parsons by 49.7% in the first quarter. Henshaw Capital LLC now owns 17,834 shares of the company’s stock worth $966,000 after purchasing an additional 5,923 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in shares of Parsons by 4.0% in the first quarter. Sunbelt Securities Inc. now owns 38,560 shares of the company’s stock worth $2,089,000 after purchasing an additional 1,500 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Up 0.2%

Shares of Parsons stock opened at $56.15 on Wednesday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.77 and a beta of 0.66. The stock has a 50-day simple moving average of $54.66 and a 200-day simple moving average of $58.85. Parsons has a 52-week low of $46.88 and a 52-week high of $89.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts expect that Parsons will post 2.97 earnings per share for the current fiscal year.

About Parsons

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.