Parsons Co. (NYSE:PSN) Given Consensus Rating of "Moderate Buy" by Analysts

Parsons Co. (NYSE:PSN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $90.20.

Several equities analysts have recently issued reports on PSN shares. Benchmark reaffirmed a "buy" rating and issued a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. Truist Financial restated a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Bank of America reduced their target price on shares of Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. The Goldman Sachs Group decreased their target price on Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Baird R W lowered Parsons from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st.

Institutional Trading of Parsons

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Parsons by 0.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock worth $1,311,000 after purchasing an additional 131 shares during the period. ProShare Advisors LLC lifted its position in Parsons by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 2,185 shares of the company's stock worth $202,000 after buying an additional 149 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Parsons by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock worth $303,000 after buying an additional 163 shares during the period. CWM LLC boosted its stake in shares of Parsons by 2.1% during the 1st quarter. CWM LLC now owns 7,810 shares of the company's stock worth $462,000 after purchasing an additional 163 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Parsons by 0.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock valued at $2,964,000 after purchasing an additional 191 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

Shares of PSN opened at $68.31 on Friday. Parsons has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The firm's 50-day simple moving average is $62.54 and its two-hundred day simple moving average is $79.44. The stock has a market cap of $7.30 billion, a PE ratio of 89.88, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29.

Parsons declared that its board has authorized a stock buyback plan on Monday, March 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.

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