Primoris Services Corp. Reaches New 12-Month High at $31.74 (PRIM)
Primoris Services Corp. (NASDAQ:PRIM)’s share price reached a new 52-week high on Wednesday, AnalystRatingsNetwork reports. The company traded as high as $31.74 and last traded at $31.45, with a volume of 309,757 shares traded. The stock had previously closed at $31.12.
A number of research firms have recently commented on PRIM. Analysts at CRT Capital initiated coverage on shares of Primoris Services Corp. in a research note to investors on Wednesday, December 18th. They set a “buy” rating and a $34.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Primoris Services Corp. from $32.00 to $34.00 in a research note to investors on Thursday, November 7th. They now have a “buy” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of Primoris Services Corp. from $24.00 to $30.00 in a research note to investors on Wednesday, November 6th. They now have a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.83.
Primoris Services Corp. has a 52-week low of $15.83 and a 52-week high of $31.45. The stock’s 50-day moving average is $28.82 and its 200-day moving average is $24.98. The company has a market cap of $1.619 billion and a price-to-earnings ratio of 25.10.
Primoris Services Corp. (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.42 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.42. The company had revenue of $551.30 million for the quarter, compared to the consensus estimate of $513.78 million. During the same quarter last year, the company posted $0.34 earnings per share. Primoris Services Corp.’s revenue was up 27.7% compared to the same quarter last year. On average, analysts predict that Primoris Services Corp. will post $1.31 earnings per share for the current fiscal year.
Primoris Services Corporation (NASDAQ:PRIM) is a holding company of various subsidiaries, which form specialty contractors and infrastructure companies in the United States.
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