Parsons Co. (NYSE:PSN) Given Consensus Rating of “Buy” by Analysts

Shares of Parsons Co. (NYSE:PSN) have been given a consensus rating of “Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $94.67.

PSN has been the topic of a number of research analyst reports. KeyCorp lifted their price target on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Raymond James raised Parsons from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $82.00 to $95.00 in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and set a $108.00 price objective (up previously from $100.00) on shares of Parsons in a research note on Thursday, August 1st. TD Cowen raised Parsons from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $90.00 in a research note on Friday, May 3rd. Finally, Robert W. Baird boosted their price objective on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Parsons Stock Up 0.1 %

Shares of PSN opened at $94.07 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $82.54 and its two-hundred day moving average is $79.71. The firm has a market cap of $9.99 billion, a P/E ratio of 522.61, a PEG ratio of 2.07 and a beta of 0.81. Parsons has a 12 month low of $53.56 and a 12 month high of $94.50.

Institutional Investors Weigh In On Parsons

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSN. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Parsons in the 2nd quarter valued at $44,000. TFO Wealth Partners LLC raised its holdings in shares of Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parsons in the 1st quarter valued at $62,000. Psagot Value Holdings Ltd. Israel raised its holdings in shares of Parsons by 700.0% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after buying an additional 973 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Parsons by 23.6% in the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after buying an additional 199 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Company Profile

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.