Parsons (NYSE:PSN) Receives New Coverage from Analysts at Wells Fargo & Co

Wells Fargo & Co assumed coverage on shares of Parsons (NYSE:PSN) in a report released on Monday, June 3rd, BenzingaRatingsTable reports. The firm issued an outperform rating and a $35.00 price target on the stock.

PSN has been the subject of several other reports. Cowen started coverage on Parsons in a research report on Monday, June 3rd. They set an outperform rating and a $35.00 price objective for the company. Morgan Stanley began coverage on Parsons in a research report on Monday, June 3rd. They set an equal weight rating and a $35.00 price objective for the company. Goldman Sachs Group began coverage on Parsons in a research report on Monday, June 3rd. They issued a buy rating and a $43.00 target price for the company. Finally, SunTrust Banks began coverage on Parsons in a research report on Monday, June 3rd. They issued a buy rating and a $37.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Parsons presently has an average rating of Buy and a consensus target price of $37.33.

Shares of NYSE PSN traded down $0.15 during midday trading on Monday, reaching $36.86. 2,847,075 shares of the company’s stock were exchanged, compared to its average volume of 862,539. Parsons has a 52-week low of $29.03 and a 52-week high of $38.33. The stock’s fifty day moving average price is $32.74.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Saturday, May 18th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.44. The firm had revenue of $904.41 million during the quarter, compared to the consensus estimate of $884.47 million. On average, research analysts expect that Parsons will post 1.4 EPS for the current fiscal year.

In other news, CFO George L. Ball bought 25,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $29.40 per share, with a total value of $735,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Parsons Company Profile

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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Analyst Recommendations for Parsons (NYSE:PSN)

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