Brokerages Set Parsons Co. (NYSE:PSN) PT at $76.89

Parsons Co. (NYSE:PSN) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $76.89.

Several equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. KeyCorp lifted their price target on shares of Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. Robert W. Baird lifted their price target on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Parsons from $65.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th.

Parsons Price Performance

Shares of PSN opened at $78.91 on Thursday. Parsons has a twelve month low of $42.22 and a twelve month high of $85.44. The firm’s fifty day simple moving average is $79.08 and its 200-day simple moving average is $67.77. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 3.60 and a beta of 0.85. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $0.45 EPS. Parsons’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities analysts forecast that Parsons will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PSN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Parsons by 56.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,931,806 shares of the company’s stock valued at $158,924,000 after acquiring an additional 1,420,028 shares in the last quarter. Norges Bank purchased a new stake in shares of Parsons in the fourth quarter valued at about $31,511,000. Lord Abbett & CO. LLC purchased a new stake in shares of Parsons in the first quarter valued at about $20,520,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Parsons in the third quarter valued at about $27,952,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Parsons by 15.2% in the first quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock valued at $121,084,000 after acquiring an additional 412,992 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

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.