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

Parsons Co. (NYSE:PSN) has been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $107.33.

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. KeyCorp lowered their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. TD Cowen cut their price target on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. William Blair lowered Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st.

Institutional Investors Weigh In On Parsons

Institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new position in Parsons in the third quarter worth $2,172,000. Oppenheimer & Co. Inc. lifted its position in shares of Parsons by 37.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after buying an additional 6,577 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Parsons in the 3rd quarter valued at about $1,004,000. Geode Capital Management LLC grew its position in shares of Parsons by 14.0% during the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock valued at $80,146,000 after buying an additional 95,040 shares during the last quarter. Finally, State Street Corp raised its stake in Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock worth $169,429,000 after acquiring an additional 616,707 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 0.8 %

PSN opened at $76.91 on Wednesday. The firm’s 50 day moving average is $91.06 and its 200-day moving average is $96.11. Parsons has a 52-week low of $65.45 and a 52-week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.17 billion, a P/E ratio of 116.54, a P/E/G ratio of 1.17 and a beta of 0.73.

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.