Parsons (NYSE:PSN) Lifted to Buy at Zacks Investment Research

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Parsons (NYSE:PSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm presently has a $41.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 8.84% from the stock’s previous close.

According to Zacks, “Parsons Corporation is a provider of technology-driven solutions. It is focused on the defense, intelligence and critical infrastructure markets. The company offers technical design and engineering services and software which consists of cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure and mobility solutions. Parsons Corporation is based in Centreville, United States. “

A number of other research firms also recently weighed in on PSN. Cowen restated a “buy” rating on shares of G1 Therapeutics in a research report on Tuesday, June 18th. Wells Fargo & Co upgraded Centurylink from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, June 26th. Goldman Sachs Group restated a “buy” rating on shares of WPP in a research report on Monday, June 3rd. Jefferies Financial Group restated a “buy” rating and issued a GBX 3,000 ($39.20) target price on shares of in a research report on Monday, June 3rd. Finally, Bank of America restated a “buy” rating and issued a $25.00 target price on shares of Infineon Technologies in a research report on Monday, June 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.86.

PSN opened at $37.67 on Friday. Parsons has a 1-year low of $29.03 and a 1-year high of $38.33. The business has a 50 day moving average price of $34.21.

Parsons (NYSE:PSN) last released its earnings results on Saturday, May 18th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.44. The firm had revenue of $904.41 million during the quarter, compared to analyst estimates of $884.47 million. Equities analysts predict that Parsons will post 1.7 EPS for the current fiscal year.

In related news, CFO George L. Ball acquired 25,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $29.40 per share, for a total transaction of $735,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Parsons Company Profile

Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.

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Analyst Recommendations for Parsons (NYSE:PSN)

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