Parsons (NYSE:PSN) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Parsons (NYSE:PSN) from a hold rating to a buy rating in a report released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $41.00 target price on the stock.

According to Zacks, “Parsons Corporation is a provider of technology-driven solutions. It is focused on the defense, intelligence and critical infrastructure markets. The company offers technical design and engineering services and software which consists of cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure and mobility solutions. Parsons Corporation is based in Centreville, United States. “

A number of other brokerages have also weighed in on PSN. Goldman Sachs Group reiterated a buy rating on shares of WPP in a research report on Monday, June 3rd. SunTrust Banks began coverage on Corteva in a research report on Monday, June 3rd. They issued a hold rating and a $29.00 price objective on the stock. Wells Fargo & Co upgraded Centurylink from a market perform rating to an outperform rating and lifted their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, June 26th. Cowen reiterated a buy rating on shares of G1 Therapeutics in a research report on Tuesday, June 18th. Finally, Jefferies Financial Group reiterated a buy rating and issued a GBX 3,000 ($39.20) price objective on shares of in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $37.86.

Shares of PSN stock opened at $38.02 on Friday. Parsons has a fifty-two week low of $29.03 and a fifty-two week high of $38.38. The stock has a 50 day simple moving average of $34.55.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Saturday, May 18th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.44. The business had revenue of $904.41 million during the quarter, compared to the consensus estimate of $884.47 million. On average, equities research analysts anticipate that Parsons will post 1.7 earnings per share for the current year.

In other news, CFO George L. Ball purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $29.40 per share, for a total transaction of $735,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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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