Parsons (NYSE:PSN) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.
Other analysts also recently issued research reports about the company. Morgan Stanley dropped their price target on Parsons from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 16th. The Goldman Sachs Group downgraded Parsons from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Monday, April 5th. Cowen downgraded Parsons from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $40.00 to $33.00 in a research note on Thursday, February 25th. Zacks Investment Research downgraded Parsons from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 28th. Finally, Stifel Nicolaus boosted their price target on Parsons from $45.00 to $70.00 and gave the company an “average” rating in a research note on Monday, April 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.75.
Shares of PSN stock opened at $40.28 on Tuesday. Parsons has a 1-year low of $30.08 and a 1-year high of $45.01. The stock’s fifty day moving average price is $42.16 and its 200 day moving average price is $38.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.
Parsons (NYSE:PSN) last announced its earnings results on Wednesday, May 5th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.09. Parsons had a return on equity of 9.78% and a net margin of 2.47%. The firm had revenue of $874.70 million for the quarter, compared to the consensus estimate of $921.96 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that Parsons will post 1.93 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Parsons by 163.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 848 shares of the company’s stock valued at $34,000 after buying an additional 526 shares during the period. Nixon Capital LLC acquired a new position in shares of Parsons in the 1st quarter valued at about $109,000. CKW Financial Group acquired a new position in shares of Parsons in the 4th quarter valued at about $106,000. First Mercantile Trust Co. acquired a new position in Parsons in the 4th quarter worth about $109,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Parsons in the 1st quarter worth about $121,000. 99.41% of the stock is owned by institutional investors and hedge funds.
About Parsons
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to U.S.
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