Brokerages Set Parsons Corporation (NYSE:PSN) PT at $76.92

Parsons Corporation (NYSE:PSN) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $76.9167.

A number of brokerages have commented on PSN. Weiss Ratings cut shares of Parsons from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. BNP Paribas Exane set a $65.00 target price on shares of Parsons and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a research note on Sunday, May 3rd. Citigroup cut their target price on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, KeyCorp cut shares of Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th.

Insider Transactions at Parsons

In related news, CEO Carey A. Smith bought 12,500 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $49.97 per share, for a total transaction of $624,625.00. Following the purchase, the chief executive officer owned 575,376 shares in the company, valued at $28,751,538.72. This represents a 2.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Keith Holdsworth bought 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $51.27 per share, with a total value of $512,700.00. Following the purchase, the director owned 39,918 shares in the company, valued at $2,046,595.86. The trade was a 33.42% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 32,500 shares of company stock worth $1,637,325. 1.31% of the stock is owned by insiders.

Institutional Trading of Parsons

A number of hedge funds have recently modified their holdings of PSN. Aster Capital Management DIFC Ltd bought a new position in Parsons during the fourth quarter worth about $25,000. Danske Bank A S bought a new position in Parsons during the fourth quarter worth about $31,000. Los Angeles Capital Management LLC bought a new position in Parsons during the fourth quarter worth about $32,000. ST Germain D J Co. Inc. bought a new position in Parsons during the fourth quarter worth about $41,000. Finally, Farther Finance Advisors LLC increased its position in 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 acquiring an additional 650 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of PSN stock opened at $50.87 on Friday. The stock has a market cap of $5.44 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.48 and a beta of 0.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75. The company has a fifty day moving average price of $53.76 and a two-hundred day moving average price of $59.67. Parsons has a one year low of $46.88 and a one year high of $89.50.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. As a group, equities analysts predict that Parsons will post 2.97 EPS for the current year.

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.