Parsons Corp (NYSE:PSN) Given Average Rating of “Buy” by Analysts

Shares of Parsons Corp (NYSE:PSN) have earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.33.

A number of equities analysts have commented on PSN shares. Bank of America started coverage on Parsons in a research note on Monday, June 3rd. They issued a “neutral” rating on the stock. Cowen started coverage on Parsons in a research note on Monday, June 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. Morgan Stanley started coverage on Parsons in a research note on Monday, June 3rd. They issued an “equal weight” rating and a $35.00 price target on the stock. Wells Fargo & Co cut Parsons from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research note on Wednesday. They noted that the move was a valuation call. Finally, Goldman Sachs Group initiated coverage on Parsons in a research note on Monday, June 3rd. They issued a “buy” rating and a $43.00 price target on the stock.

In other Parsons news, CFO George L. Ball bought 25,000 shares of Parsons stock in a transaction dated Thursday, May 9th. The shares were purchased 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 Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE PSN opened at $37.01 on Friday. Parsons has a 52 week low of $29.03 and a 52 week high of $38.33. The business has a 50-day moving average of $32.66.

Parsons (NYSE:PSN) last issued its earnings results on Saturday, May 18th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.13 by $0.44. The company had revenue of $904.41 million during the quarter, compared to the consensus estimate of $884.47 million. On average, equities analysts expect that Parsons will post 1.4 earnings per share for the current year.

About Parsons

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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