Parsons Co. (NYSE:PSN – Get Free Report) saw unusually-high trading volume on Monday . 1,655,861 shares were traded during trading, an increase of 91% from the previous session’s volume of 866,162 shares.The stock last traded at $82.09 and had previously closed at $82.31.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on PSN. KeyCorp boosted their price objective on shares of Parsons from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. The Goldman Sachs Group upped their price target on shares of Parsons from $65.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Robert W. Baird raised their price target on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price objective on shares of Parsons from $74.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.22.
Parsons Trading Up 0.1 %
The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $73.85 and its 200 day moving average price is $64.75. The stock has a market cap of $8.72 billion, a P/E ratio of 57.97, a PEG ratio of 3.68 and a beta of 0.85.
Parsons (NYSE:PSN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a return on equity of 10.32% and a net margin of 2.96%. The company’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Equities research analysts expect that Parsons Co. will post 2.55 earnings per share for the current year.
Institutional Trading of Parsons
Several large investors have recently modified their holdings of the company. Group One Trading L.P. bought a new stake in shares of Parsons during the 1st quarter valued at $27,000. Comerica Bank purchased a new stake in shares of Parsons during the third quarter worth about $30,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons during the 3rd quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased its holdings in Parsons by 60.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 782 shares of the company’s stock valued at $43,000 after acquiring an additional 295 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in Parsons by 18,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock valued at $46,000 after buying an additional 728 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.
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.