Raymond James downgraded Parsons from Strong Buy to Outperform and set a new price target of $115.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/23/2024 | $115.00 | Strong Buy → Outperform | Raymond James |
| 5/3/2024 | $77.00 → $90.00 | Hold → Buy | TD Cowen |
| 5/1/2024 | $82.00 → $95.00 | Outperform → Strong Buy | Raymond James |
| 1/16/2024 | $68.00 → $75.00 | Neutral → Outperform | Robert W. Baird |
| 1/10/2024 | $74.00 | Overweight | KeyBanc Capital Markets |
| 8/14/2023 | $46.00 → $65.00 | Underperform → Buy | BofA Securities |
| 7/28/2023 | $50.00 → $60.00 | Hold → Buy | Truist |
| 3/28/2023 | Mkt Perform → Outperform | William Blair |
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BAE Systems (LON: BA) has selected Parsons Corporation (NYSE:PSN), a leading national security and global infrastructure company, to begin initial designs for the modernization of the Alternate Nitrate Ester Manufacturing Facility at the Radford Army Ammunition Plant (RFAAP). Under this two-year, $15.4 million contract, Parsons will prepare a series of preliminary design packages for the RFAAP manufacturing facility.
Parsons Corp's (NYSE:PSN) short percent of float has risen 4.13% since its last report. The company recently reported that it has 3.85 million shares sold short, which is 8.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.06 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is
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Raymond James downgraded Parsons from Strong Buy to Outperform and set a new price target of $115.00
TD Cowen upgraded Parsons from Hold to Buy and set a new price target of $90.00 from $77.00 previously
Raymond James upgraded Parsons from Outperform to Strong Buy and set a new price target of $95.00 from $82.00 previously
Q3 2024 Financial Highlights Record revenue of $1.8 billion increases 28% year-over-yearRecord organic revenue growth of 26%, including six consecutive quarters with year-over-year organic growth above 20%Record net income increases 52% to $72 millionRecord adjusted EBITDA increases 31% to $167 millionRecord cash flow from operations increases by $95 million to $299 million; record trailing twelve-month operating cash flow of $587 million increases 91% over the prior twelve-month periodContract awards increase 24% to $1.8 billion, a third quarter recordAnnounced and closed BlackSignal Technologies acquisitionAfter Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Eng
CHANTILLY, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release third quarter 2024 financial results before the markets open on Wednesday, October 30, 2024. The company will host a conference call at 8:00 a.m. Eastern Time that day to discuss its earnings results and strategic corporate initiatives. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximately two hours
Q2 2024 Financial Highlights Record revenue of $1.7 billion increases 23% year-over-yearStrong second quarter organic revenue growth of 22%, including five consecutive quarters with year-over-year organic growth above 20%Record net income of $69 million increases 60%Record adjusted EBITDA increases 27% to $150 millionRecord cash flow from operations increases $138 million to $161 million; record trailing twelve-month operating cash flow of $492 million increases 117% over the prior twelve-month periodAfter Q2 2024 ended, Parsons entered into a definitive agreement to acquire BlackSignal TechnologiesIncreasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., July
CHANTILLY, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded two contracts worth $25 million to perform design engineering for a Middle East transportation customer. With the same customer, Parsons has won more than $90 million in contract awards over the last 9 months. Under these contracts, Parsons will lead the design engineering and construction supervision of transportation infrastructure enhancements. The scope includes the development of mobility solutions and their dedicated corridors, roadway capacity upgrades, and public transit initiatives on critical streets to improve urban mobility and reduce congestion. P
NEW YORK, Sept. 6, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 23, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from
CHANTILLY, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded a three-year contract for new work by Soudah Development – a real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia that is driving the development of Soudah Peaks, an upcoming year-round luxury mountain tourism destination set 3,015 meters above sea level on Saudi Arabia's highest peak – for project management consultancy services. Parsons' scope includes all project management and site supervision services for the development of Soudah Peaks which is home to 6 unique development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, a
CHANTILLY, Va., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that Kicking Horse Canyon Phase 4 (KHCP4), a transformative infrastructure initiative in British Columbia (BC), Canada, has been awarded the prestigious 2024 Global Best Project Award in the Road/Highway category by Engineering News-Record (ENR). Led by Kicking Horse Canyon Constructors – a joint venture between Aecon Constructors, Parsons Corporation, and Emil Anderson Construction – the project was delivered in partnership with the Transportation Investment Corporation and the BC Ministry of Transportation and Infrastructure. Parsons, a joint venture partner, also served as lead design engi
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that the Company, in a joint venture with O&G Industries, Inc. ("O&G"), has been awarded a contract valued at $1.18 billion by the Port Authority of New York and New Jersey for the AirTrain Newark Replacement Program - Guideway and Stations Project at Newark Liberty International Airport in New Jersey. The scope of work includes design and construction of a 2.5-mile elevated, automated people mover train system with three stations that will replace the existing AirTrain, which has been in operation since 1996. Tutor Perini is the managing partner in the joint
CHANTILLY, Va., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the Tennessee Department of Transportation (TDOT) has selected the company to serve as lead designer for the proposed America's River Crossing project, a pivotal infrastructure project aimed at enhancing transportation connectivity and economic growth in the Memphis region. This contract win marks a significant milestone for Parsons, further solidifying its position as a leader in long-span bridge design. The proposed America's River Crossing project will replace the existing 75-year-old I-55 bridge, which, by 2050, is projected to support approximately 64,000 vehicles carrying residents,