Parsons (NYSE:PSN) had its price target upped by SunTrust Banks to $44.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley set a $36.00 target price on shares of Parsons and gave the company a hold rating in a research note on Monday, September 9th. Liberum Capital reaffirmed a buy rating on shares of Parsons in a research note on Wednesday, October 30th. ValuEngine cut shares of Parsons from a buy rating to a hold rating in a report on Tuesday, October 1st. UBS Group reiterated a buy rating on shares of Parsons in a report on Saturday, November 2nd. Finally, Zacks Investment Research upgraded shares of Parsons from a hold rating to a buy rating and set a $38.00 price target on the stock in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $39.29.
Shares of NYSE PSN traded up $0.91 on Wednesday, reaching $38.93. 248,390 shares of the company’s stock traded hands, compared to its average volume of 248,261. Parsons has a 12 month low of $29.03 and a 12 month high of $39.28. The company has a 50 day moving average of $34.35.
Parsons (NYSE:PSN) last announced its earnings results on Tuesday, November 12th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. Parsons had a net margin of 2.97% and a negative return on equity of 11.53%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts forecast that Parsons will post 1.61 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in Parsons in the second quarter worth approximately $184,000. JPMorgan Chase & Co. bought a new position in Parsons in the second quarter worth approximately $5,264,000. Wells Fargo & Company MN bought a new position in Parsons in the second quarter worth approximately $35,862,000. Boenning & Scattergood Inc. raised its position in Parsons by 56.5% in the third quarter. Boenning & Scattergood Inc. now owns 16,350 shares of the company’s stock worth $539,000 after acquiring an additional 5,900 shares during the period. Finally, Morgan Stanley bought a new position in Parsons in the second quarter worth approximately $6,582,000. Institutional investors own 99.60% of the company’s stock.
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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