Primoris Services (NYSE:PRIM) Given New $212.00 Price Target at UBS Group

Primoris Services (NYSE:PRIM) had its target price upped by analysts at UBS Group from $176.00 to $212.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 13.90% from the stock’s current price.

Other research analysts have also issued reports about the company. The Goldman Sachs Group increased their price objective on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Guggenheim increased their price objective on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Cantor Fitzgerald set a $160.00 price objective on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.25.

Primoris Services Stock Up 3.2%

Primoris Services stock traded up $5.77 during mid-day trading on Monday, hitting $186.12. 1,279,999 shares of the company were exchanged, compared to its average volume of 784,161. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day moving average of $152.12. Primoris Services has a 1-year low of $63.36 and a 1-year high of $187.10. The company has a market capitalization of $10.09 billion, a P/E ratio of 37.00 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Research analysts expect that Primoris Services will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On Primoris Services

A number of hedge funds and other institutional investors have recently bought and sold shares of PRIM. NewEdge Advisors LLC increased its holdings in Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Primoris Services by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock valued at $28,337,000 after purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Primoris Services in the first quarter valued at about $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Primoris Services by 25.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock valued at $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Primoris Services in the second quarter valued at about $274,000. 91.82% of the stock is owned by institutional investors and hedge funds.

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.