Parsons (NYSE:PSN) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Parsons (NYSE:PSN) in a research note released on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $86.00 price target on the stock.

Other analysts have also issued reports about the company. TD Cowen upgraded Parsons from a “hold” rating to a “buy” rating and lowered their target price for the company from $90.00 to $75.00 in a research note on Wednesday. Truist Financial decreased their price objective on Parsons from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 5th. KeyCorp dropped their price objective on shares of Parsons from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. Robert W. Baird reduced their target price on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Parsons Stock Performance

Shares of PSN stock opened at $63.27 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 3.41 and a beta of 0.65. Parsons has a 52 week low of $54.56 and a 52 week high of $99.04. The firm’s 50-day simple moving average is $81.83 and its two-hundred day simple moving average is $77.55.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.95 EPS. Parsons’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Parsons will post 3.58 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Parsons by 10.6% during the third quarter. GAMMA Investing LLC now owns 1,412 shares of the company’s stock valued at $117,000 after buying an additional 135 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Parsons by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock worth $1,412,000 after buying an additional 144 shares during the period. Thomas Story & Son LLC increased its stake in shares of Parsons by 5.7% in the 3rd quarter. Thomas Story & Son LLC now owns 3,035 shares of the company’s stock worth $252,000 after acquiring an additional 165 shares in the last quarter. True Wealth Design LLC lifted its position in Parsons by 63.9% during the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Finally, Roanoke Asset Management Corp NY lifted its position in Parsons by 0.5% during the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock valued at $2,305,000 after acquiring an additional 200 shares during the period. 98.02% of the stock is owned by institutional investors.

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.