Parsons (NYSE:PSN) Receives “Buy” Rating from Cowen

Cowen reaffirmed their buy rating on shares of Parsons (NYSE:PSN) in a research report report published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $35.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group assumed coverage on Parsons in a research note on Monday, June 3rd. They issued a buy rating and a $38.00 price target for the company. Bank of America assumed coverage on Parsons in a research note on Monday, June 3rd. They issued a neutral rating for the company. Wells Fargo & Co assumed coverage on Parsons in a research note on Monday, June 3rd. They issued an outperform rating and a $35.00 price target for the company. Morgan Stanley assumed coverage on Parsons in a research note on Monday, June 3rd. They issued an equal weight rating and a $35.00 price target for the company. Finally, SunTrust Banks assumed coverage on Parsons in a research note on Monday, June 3rd. They issued a buy rating and a $37.00 price target for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $37.17.

Shares of PSN stock opened at $37.95 on Tuesday. Parsons has a 1-year low of $29.03 and a 1-year high of $37.95.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.46. The company had revenue of $904.40 million during the quarter, compared to analyst estimates of $884.08 million. Parsons’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts predict that Parsons will post 1.53 EPS for the current fiscal year.

In related news, CFO George L. Ball purchased 25,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $29.40 per share, with a total value of $735,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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