Primoris Services (NYSE:PRIM) Raised to Outperform at Mizuho

Primoris Services (NYSE:PRIM) was upgraded by investment analysts at Mizuho from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a $135.00 price objective on the stock, down from their previous price objective of $175.00. Mizuho’s price objective indicates a potential upside of 28.34% from the company’s current price.

Other research analysts have also recently issued reports about the company. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. KeyCorp decreased their price target on Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings lowered Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $160.33.

Primoris Services Stock Up 0.4%

NYSE:PRIM opened at $105.19 on Monday. 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 moving average price is $150.65. Primoris Services has a 52 week low of $67.15 and a 52 week high of $205.50. The firm has a market capitalization of $5.71 billion, a PE ratio of 23.17 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts expect that Primoris Services will post 5.47 EPS for the current fiscal year.

Institutional Trading of Primoris Services

A number of large investors have recently modified their holdings of PRIM. SBI Securities Co. Ltd. increased its holdings in Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after buying an additional 148 shares during the last quarter. Root Financial Partners LLC increased its holdings in Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Primoris Services in the third quarter valued at $37,000. Harbour Investments Inc. purchased a new position in Primoris Services in the fourth quarter valued at $33,000. Finally, Richardson Financial Services Inc. increased its holdings in Primoris Services by 163.1% in the third quarter. Richardson Financial Services Inc. now owns 321 shares of the company’s stock valued at $44,000 after buying an additional 199 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.