Parsons (NYSE:PSN) Hits New 12-Month High at $42.79

Parsons Co. (NYSE:PSNGet Rating)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $42.79 and last traded at $42.74, with a volume of 2891 shares traded. The stock had previously closed at $42.38.

Analyst Ratings Changes

PSN has been the topic of a number of research reports. TheStreet raised shares of Parsons from a “c+” rating to a “b-” rating in a research report on Tuesday, July 19th. Truist Financial downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Friday, April 22nd. Finally, The Goldman Sachs Group increased their price objective on shares of Parsons from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.20.

Parsons Trading Up 0.6 %

The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 61.94, a P/E/G ratio of 2.18 and a beta of 0.84. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.30. The company’s 50 day simple moving average is $39.57 and its two-hundred day simple moving average is $36.91.

Parsons (NYSE:PSNGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $949.10 million during the quarter, compared to the consensus estimate of $885.54 million. Parsons had a net margin of 2.03% and a return on equity of 8.66%. Parsons’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. As a group, research analysts anticipate that Parsons Co. will post 1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

Several institutional investors and hedge funds have recently made changes to their positions in PSN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Parsons during the fourth quarter worth $52,473,000. Lord Abbett & CO. LLC acquired a new stake in shares of Parsons during the first quarter worth $20,520,000. Vanguard Group Inc. lifted its stake in shares of Parsons by 15.2% during the first quarter. Vanguard Group Inc. now owns 3,128,822 shares of the company’s stock worth $121,084,000 after buying an additional 412,992 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Parsons by 4,326,900.0% during the second quarter. Thompson Siegel & Walmsley LLC now owns 216,350 shares of the company’s stock worth $8,745,000 after buying an additional 216,345 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Parsons by 45.4% during the first quarter. Dimensional Fund Advisors LP now owns 693,177 shares of the company’s stock worth $26,827,000 after buying an additional 216,326 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.

About Parsons

(Get Rating)

Parsons Corporation provides integrated solutions and services 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 the U.S.

Further Reading

Receive News & Ratings for Parsons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsons and related companies with MarketBeat.com's FREE daily email newsletter.