Primoris Services’ (PRIM) Buy Rating Reaffirmed at Roth Capital

Primoris Services (NYSE:PRIM)‘s stock had its “buy” rating reiterated by equities research analysts at Roth Capital in a research note issued on Monday,Benzinga reports. They currently have a $100.00 target price on the stock. Roth Capital’s target price indicates a potential upside of 14.63% from the company’s current price.

Several other analysts have also recently commented on PRIM. Wall Street Zen cut Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Needham & Company LLC dropped their price objective on Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Wolfe Research reissued an “outperform” rating and set a $149.00 price objective on shares of Primoris Services in a research note on Monday, June 15th. Oppenheimer initiated coverage on shares of Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Primoris Services Stock Performance

Shares of Primoris Services stock traded up $1.28 during trading hours on Monday, hitting $87.24. 134,665 shares of the company were exchanged, compared to its average volume of 1,459,328. Primoris Services has a 1 year low of $65.00 and a 1 year high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $104.26 and a 200-day moving average of $133.28. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.23 and a beta of 1.41.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts expect that Primoris Services will post 1.88 EPS for the current fiscal year.

Insider Activity at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the sale, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Primoris Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in shares of Primoris Services in the 4th quarter worth approximately $7,181,000. New York State Teachers Retirement System boosted its holdings in Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Primoris Services by 2,338.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock valued at $39,033,000 after purchasing an additional 301,532 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Primoris Services by 509.6% during the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after purchasing an additional 281,482 shares during the period. Finally, UBS Group AG lifted its position in shares of Primoris Services by 2.4% in the 4th quarter. UBS Group AG now owns 638,876 shares of the company’s stock worth $79,310,000 after buying an additional 15,112 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.