Parsons (NYSE:PSN) Given a $36.00 Price Target at Morgan Stanley

Morgan Stanley set a $36.00 price target on Parsons (NYSE:PSN) in a report issued on Monday, TipRanks reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. SunTrust Banks raised their target price on Parsons from $37.00 to $40.00 and gave the company a buy rating in a report on Wednesday, August 28th. Wells Fargo & Co cut Parsons from an outperform rating to a market perform rating and set a $36.00 price target for the company. in a report on Wednesday, June 26th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on Parsons in a research report on Monday, June 3rd. They set a buy rating and a $43.00 price objective for the company. Bank of America initiated coverage on Parsons in a research note on Monday, June 3rd. They issued a neutral rating on the stock. Finally, Jefferies Financial Group initiated coverage on Parsons in a research report on Monday, June 3rd. They issued a buy rating and a $38.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Parsons currently has a consensus rating of Buy and an average target price of $38.71.

Shares of NYSE PSN traded up $2.05 during trading hours on Monday, hitting $34.99. 379,100 shares of the stock were exchanged, compared to its average volume of 514,149. The firm has a fifty day moving average of $35.30. Parsons has a 1-year low of $29.03 and a 1-year high of $38.82.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.21). The business had revenue of $989.74 million for the quarter, compared to analyst estimates of $953.83 million. During the same period in the prior year, the company posted $0.40 EPS. Parsons’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts predict that Parsons will post 2.03 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN bought a new stake in Parsons during the 2nd quarter worth $35,862,000. Creative Planning acquired a new stake in shares of Parsons during the second quarter valued at about $756,000. Moody Aldrich Partners LLC bought a new stake in shares of Parsons during the second quarter worth about $2,756,000. Cambiar Investors LLC bought a new stake in shares of Parsons during the second quarter worth about $2,757,000. Finally, Clarus Wealth Advisors bought a new stake in shares of Parsons during the second quarter worth about $56,000. Institutional investors own 99.43% of the company’s stock.

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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