Primoris Services Corp. PT Lowered to $31.00 (PRIM)
Research analysts at DA Davidson lowered their price target on shares of Primoris Services Corp. (NASDAQ:PRIM) from $32.00 to $31.00 in a report released on Thursday. DA Davidson’s price objective suggests a potential upside of 8.70% from the stock’s previous close.
Separately, analysts at Global Hunter Securities initiated coverage on shares of Primoris Services Corp. in a research note on Thursday, June 19th. They set an “accumulate” rating and a $34.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $32.11.
Shares of Primoris Services Corp. (NASDAQ:PRIM) traded down 0.77% on Thursday, hitting $28.52. 250,755 shares of the company’s stock traded hands. Primoris Services Corp. has a one year low of $19.53 and a one year high of $33.42. The stock’s 50-day moving average is $29.31 and its 200-day moving average is $30.1. The company has a market cap of $1.473 billion and a price-to-earnings ratio of 20.99.
Primoris Services Corp. (NASDAQ:PRIM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $460.95 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts predict that Primoris Services Corp. will post $1.59 earnings per share for the current fiscal year.
In other Primoris Services Corp. news, Director Thomas E. Tucker sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $29.06, for a total value of $58,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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