Cowen & Co. analyst Cai Rumohr maintained a Hold rating on Parsons (PSN) on April 15 and set a price target of $33.00. The company’s shares closed last Monday at $42.94, close to its 52-week high of $43.37.
According to TipRanks.com, Rumohr is a 4-star analyst with an average return of 6.0% and a 64.6% success rate. Rumohr covers the Technology sector, focusing on stocks such as Raytheon Technologies, Smith & Wesson Brands, and L3Harris Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Parsons with a $46.00 average price target, which is a 6.7% upside from current levels. In a report issued on April 5, Goldman Sachs also downgraded the stock to Hold with a $43.00 price target.
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Based on Parsons’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $964 million and net profit of $21.61 million. In comparison, last year the company earned revenue of $1.04 billion and had a net profit of $13.72 million.
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Parsons Corp. provides engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. The company delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers. Its projects include airports, bridges, chemical demilitarization, dams, energy generation facilities, environmental remediation and restoration, homeland defense, hospitals, missile defense, pharmaceutical plants, ports, public works, rail systems, roads, schools and universities, water distribution, and wastewater treatment systems. The company was founded by Ralph Monroe Parsons on June 12, 1944 and is headquartered in Pasadena, CA.
