Parsons (NYSE:PSN) Given Hold (C+) Rating at Weiss Ratings

Parsons (NYSE:PSN)‘s stock had its “hold (c+)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the company. Jefferies Financial Group increased their price objective on Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, July 2nd. Truist Financial upped their target price on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. KeyCorp upped their target price on Parsons from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Robert W. Baird upped their target price on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.80.

Parsons Stock Performance

NYSE:PSN opened at $89.30 on Wednesday. The firm has a market cap of $9.54 billion, a PE ratio of 39.87, a price-to-earnings-growth ratio of 4.61 and a beta of 0.64. Parsons has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. The business has a 50 day moving average price of $79.65 and a 200-day moving average price of $71.82.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities research analysts predict that Parsons will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Parsons

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSN. GAMMA Investing LLC grew its stake in Parsons by 19,411.1% in the first quarter. GAMMA Investing LLC now owns 61,460 shares of the company’s stock worth $3,639,000 after purchasing an additional 61,145 shares during the period. UMB Bank n.a. grew its stake in Parsons by 238.7% in the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 389 shares during the period. SG Americas Securities LLC purchased a new stake in Parsons in the first quarter worth $12,427,000. Fifth Third Bancorp grew its stake in Parsons by 1,803.4% in the first quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 523 shares during the period. Finally, Aubrey Capital Management Ltd purchased a new stake in Parsons in the first quarter worth $338,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

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.