Brokerages Set Parsons Corporation (NYSE:PSN) PT at $78.17

Parsons Corporation (NYSE:PSN) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $77.1538.

A number of brokerages have recently weighed in on PSN. BNP Paribas Exane set a $65.00 price objective on Parsons and gave the company an “outperform” rating in a report on Wednesday, May 27th. Citigroup cut their price objective on Parsons from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. KeyCorp lowered Parsons from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 14th. UBS Group dropped their target price on Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings lowered Parsons from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th.

Parsons Trading Up 2.8%

Parsons stock opened at $60.75 on Tuesday. The stock has a 50-day moving average of $53.67 and a two-hundred day moving average of $63.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.75 and a current ratio of 1.75. Parsons has a one year low of $48.23 and a one year high of $89.50. The stock has a market cap of $6.50 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.60.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business posted $0.60 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Parsons will post 2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Parsons news, Director Mark Keith Holdsworth purchased 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the transaction, the director owned 39,918 shares of the company’s stock, valued at $2,046,595.86. This trade represents a 33.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director George L. Ball purchased 10,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $500,000.00. Following the transaction, the director directly owned 150,383 shares of the company’s stock, valued at $7,519,150. This represents a 7.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 32,500 shares of company stock worth $1,637,325. 1.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Parsons

Hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons in the fourth quarter valued at approximately $25,000. Danske Bank A S purchased a new position in Parsons during the fourth quarter worth approximately $31,000. Los Angeles Capital Management LLC purchased a new position in Parsons during the fourth quarter worth approximately $32,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Parsons during the third quarter worth approximately $40,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Parsons during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Company Profile

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.