Parsons (NYSE:PSN) Given Neutral Rating at Robert W. Baird

Key Points

• Robert W. Baird reinstated a neutral rating on Parsons with a $60 price target, implying roughly a 7.0% upside from the prior close.
• Analyst consensus remains positive overall—ten Buy, four Hold and one Sell—giving Parsons a consensus rating of Moderate Buy and a $79.42 consensus price target.
• Parsons recently missed earnings, reporting $0.75 EPS versus $0.81 expected and $1.60B revenue versus $1.68B expected, with quarterly revenue down 7.5% year‑over‑year.

Parsons (NYSE:PSN - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at Robert W. Baird in a report issued on Monday,Benzinga reports. They presently have a $60.00 price target on the stock. Robert W. Baird's target price would suggest a potential upside of 7.02% from the stock's previous close.

Several other research firms also recently commented on PSN. KeyCorp cut their target price on Parsons from $80.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, February 12th. Barclays cut their target price on Parsons from $78.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. UBS Group cut their target price on Parsons from $104.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Truist Financial reaffirmed a "buy" rating and set a $85.00 price target (down from $90.00) on shares of Parsons in a report on Thursday, February 12th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Parsons in a report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.42.

Parsons Price Performance

Parsons stock opened at $56.07 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $5.93 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.75 and a beta of 0.73. Parsons has a one year low of $49.38 and a one year high of $89.50. The business has a 50 day simple moving average of $60.32 and a 200 day simple moving average of $70.62.

Parsons (NYSE:PSN - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.Parsons's quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. On average, sell-side analysts forecast that Parsons will post 3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Parsons

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Parsons in the 3rd quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parsons in the 4th quarter valued at $25,000. Danske Bank A S acquired a new stake in shares of Parsons in the 4th quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Parsons in the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Parsons in the 3rd quarter valued at $40,000. 98.02% of the stock is owned by institutional investors and hedge funds.

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.

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