Parsons (NYSE:PSN) Shares Gap Up to $77.18

Parsons Co. (NYSE:PSN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $77.18, but opened at $83.63. Parsons shares last traded at $86.81, with a volume of 282,516 shares trading hands.

Analysts Set New Price Targets

PSN has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a research report on Thursday. KeyCorp upped their price target on Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group upped their price target on Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $82.00 to $95.00 in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus upped their price objective on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Parsons has an average rating of “Buy” and a consensus price target of $91.70.

Parsons Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79. The business has a fifty day simple moving average of $78.47 and a 200 day simple moving average of $77.16. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of 485.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.81.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Parsons had a return on equity of 12.13% and a net margin of 0.89%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, research analysts expect that Parsons Co. will post 2.61 EPS for the current year.

Institutional Trading of Parsons

Several large investors have recently modified their holdings of PSN. Wolverine Asset Management LLC acquired a new stake in Parsons in the second quarter valued at about $3,600,000. Versor Investments LP acquired a new stake in Parsons in the second quarter valued at about $360,000. Verus Capital Partners LLC acquired a new stake in Parsons in the second quarter valued at about $564,000. Lisanti Capital Growth LLC boosted its stake in Parsons by 19.3% in the second quarter. Lisanti Capital Growth LLC now owns 55,930 shares of the company’s stock valued at $4,576,000 after buying an additional 9,065 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Parsons by 98.3% in the second quarter. Van ECK Associates Corp now owns 285,800 shares of the company’s stock valued at $23,381,000 after buying an additional 141,673 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

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.