Parsons Corporation (NYSE:PSN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Parsons Corporation (NYSE:PSN) has earned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $64.0833.

Several brokerages have recently weighed in on PSN. Truist Financial reiterated a “buy” rating and set a $60.00 target price (down from $75.00) on shares of Parsons in a research report on Thursday, July 30th. BNP Paribas Exane set a $65.00 price target on shares of Parsons and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. William Blair reaffirmed an “outperform” rating on shares of Parsons in a report on Wednesday, July 29th. Robert W. Baird upgraded Parsons from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $57.00 in a research note on Friday, August 21st. Finally, TD Cowen reissued a “buy” rating on shares of Parsons in a report on Wednesday, July 29th.

Parsons Stock Down 0.1%

Shares of PSN stock opened at $47.55 on Thursday. Parsons has a one year low of $36.26 and a one year high of $89.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a fifty day moving average price of $51.04 and a 200 day moving average price of $54.11. The stock has a market cap of $5.08 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 3.60 and a beta of 0.71.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.82). Parsons had a net margin of 2.50% and a return on equity of 8.10%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm earned $0.78 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that Parsons will post 2.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director George Ball purchased 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $47.97 per share, for a total transaction of $959,400.00. Following the completion of the transaction, the director directly owned 170,383 shares of the company’s stock, valued at approximately $8,173,272.51. The trade was a 13.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Parsons

Several large investors have recently made changes to their positions in PSN. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons during the 4th quarter worth about $25,000. Danske Bank A S bought a new stake in Parsons during the fourth quarter worth about $31,000. Los Angeles Capital Management LLC bought a new stake in Parsons during the fourth quarter worth about $32,000. Versant Capital Management Inc increased its holdings in shares of Parsons by 183.6% during the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock worth $29,000 after buying an additional 358 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Parsons by 613.2% during the fourth quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock worth $47,000 after buying an additional 650 shares in the last quarter. 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.