Parsons Corporation (NYSE:PSN) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Parsons Corporation (NYSE:PSN) has received a consensus recommendation of "Moderate Buy" from analysts, with 7 buy ratings and 4 hold ratings.
• The average 12-month price target for Parsons stock is $86.20, following varied recommendations from multiple brokerages, including a recent upgrade by Raymond James to a "strong-buy" rating with a $90.00 target.
• Institutional investors own 98.02% of Parsons’ stock, with several firms increasing their stakes in the company in recent quarters.

Parsons Corporation (NYSE:PSN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $86.20.

A number of brokerages have recently weighed in on PSN. Jefferies Financial Group upped their price target on shares of Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Raymond James Financial raised shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price target for the company in a research note on Tuesday, July 8th. Robert W. Baird lowered shares of Parsons from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $72.00 to $69.00 in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus began coverage on shares of Parsons in a research note on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price target for the company.

Institutional Trading of Parsons

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Parsons by 0.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock valued at $1,311,000 after purchasing an additional 131 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Parsons by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 2,185 shares of the company's stock valued at $202,000 after acquiring an additional 149 shares during the period. CWM LLC raised its holdings in shares of Parsons by 2.1% during the first quarter. CWM LLC now owns 7,810 shares of the company's stock valued at $462,000 after acquiring an additional 163 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Parsons by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company's stock valued at $1,587,000 after acquiring an additional 194 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of Parsons by 1.8% during the first quarter. New York State Teachers Retirement System now owns 11,317 shares of the company's stock valued at $670,000 after acquiring an additional 200 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Up 0.3%

Parsons stock opened at $75.50 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $71.02 and a two-hundred day moving average price of $69.14. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 4.62 and a beta of 0.55. Parsons has a 52-week low of $54.56 and a 52-week high of $114.68.

About Parsons

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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