Cantor Fitzgerald Cuts Primoris Services (NYSE:PRIM) Price Target to $100.00

Primoris Services (NYSE:PRIM) had its price target cut by Cantor Fitzgerald from $124.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 6.54% from the stock’s previous close.

PRIM has been the topic of a number of other research reports. Weiss Ratings lowered shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and set a $102.00 price objective for the company in a report on Thursday. UBS Group cut their target price on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.67.

Primoris Services Trading Up 1.3%

Shares of PRIM stock traded up $1.17 during mid-day trading on Thursday, reaching $93.86. 114,911 shares of the stock traded hands, compared to its average volume of 1,401,141. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 20.29 and a beta of 1.36. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $127.66 and its two-hundred day simple moving average is $137.91. Primoris Services has a 1-year low of $65.00 and a 1-year high of $205.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.98 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts anticipate that Primoris Services will post 4.55 EPS for the current fiscal year.

Insider Transactions at Primoris Services

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

Institutional Trading of Primoris Services

Several large investors have recently modified their holdings of PRIM. Vanguard Group Inc. increased its stake in shares of Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after acquiring an additional 466,192 shares in the last quarter. First Trust Advisors LP boosted its stake in Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after acquiring an additional 928,155 shares in the last quarter. State Street Corp grew its holdings in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares during the period. Wellington Management Group LLP grew its holdings in Primoris Services by 163.0% in the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC increased its stake in Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after purchasing an additional 42,052 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Key Primoris Services News

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Goldman Sachs upgraded Primoris Services from sell to neutral and set a $102 price target, suggesting some upside from recent levels and offering a modest counterbalance to the negative news flow. Goldman Sachs upgrade via Finviz
• Neutral Sentiment: KeyCorp cut its FY2027 EPS estimate to $5.09 from $5.87, reflecting lower earnings expectations but leaving its overall view at Sector Weight.
• Neutral Sentiment: Mizuho lowered its price target to $117 while keeping an outperform rating, indicating analysts still see long-term value despite the near-term turmoil. Mizuho price target cut via Benzinga
• Negative Sentiment: Multiple law firms have launched securities-fraud investigations into Primoris, which can weigh on sentiment and raise legal overhang concerns for investors.
• Negative Sentiment: Recent articles highlight that the company’s renewables execution issues have widened, contributing to steep stock declines after the May earnings miss and the new operational shock.

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.