Brokerages Set Parsons Co. (NYSE:PSN) Price Target at $108.25

Shares of Parsons Co. (NYSE:PSN) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $108.25.

Several research analysts have recently commented on PSN shares. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. TD Cowen cut their price target on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Parsons

Several large investors have recently made changes to their positions in PSN. ORG Wealth Partners LLC bought a new stake in Parsons during the 4th quarter worth about $26,000. GAMMA Investing LLC grew its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC bought a new stake in shares of Parsons during the third quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new position in Parsons in the third quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP bought a new position in Parsons in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of NYSE:PSN opened at $95.17 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The business’s fifty day moving average price is $96.15 and its two-hundred day moving average price is $95.56. Parsons has a fifty-two week low of $64.33 and a fifty-two week high of $114.68. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 144.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, analysts predict that Parsons will post 3.02 EPS for the current fiscal year.

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.