Wall Street Zen Downgrades Primoris Services (NYSE:PRIM) to Sell

Primoris Services (NYSE:PRIM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $107.00 to $102.00 in a research note on Thursday. Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Mizuho lowered their target price on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their target price on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.67.

Primoris Services Stock Down 2.4%

Primoris Services stock opened at $93.13 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 20.51 and a beta of 1.36. Primoris Services has a 1-year low of $65.00 and a 1-year high of $205.50. The business has a fifty day moving average price of $124.85 and a 200-day moving average price of $137.38.

Primoris Services (NYSE:PRIM) last announced its earnings results 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 business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts forecast that Primoris Services will post 1.87 EPS for the current fiscal year.

Insider Activity at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on 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 directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Lee King sold 20,000 shares of the 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 sale, the director directly owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Institutional Trading of Primoris Services

A number of hedge funds have recently modified their holdings of PRIM. Root Financial Partners LLC grew its holdings in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the period. Harbour Investments Inc. acquired a new position in Primoris Services in the fourth quarter valued at approximately $33,000. Salomon & Ludwin LLC purchased a new stake in Primoris Services in the 4th quarter worth approximately $44,000. Cullen Frost Bankers Inc. grew its stake in shares of Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Primoris Services by 120.4% during the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services News Summary

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

• Positive Sentiment: Goldman Sachs upgraded Primoris from sell to neutral, suggesting the stock may be less weak than before, even though the firm still trimmed its price target. Goldman’s revised target implies some upside from recent trading levels.
• Neutral Sentiment: Cantor Fitzgerald lowered its price target on Primoris and kept a neutral stance, signaling a more cautious but not outright bearish view from another analyst.
• Neutral Sentiment: AAII published a comparison piece on Primoris versus MYR Group, which appears informational rather than a direct company catalyst. Article Title
• Negative Sentiment: KeyCorp sharply cut earnings estimates for Primoris across Q2, Q3, Q4, and FY2026, reflecting a much weaker outlook for profitability and adding pressure on the stock.
• Negative Sentiment: Pomerantz LLP and Bragar Eagel & Squire both announced investigations into Primoris on behalf of stockholders, which raises the risk of legal overhang and investor concern. Article Title
• Negative Sentiment: Seeking Alpha and PR Newswire reports highlighted worsening execution problems in Primoris’ renewables projects, including additional cost overruns, expanded project issues, and the departure of the COO. These developments reinforce fears that operational problems could keep weighing on earnings and sentiment. Article Title Article Title

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.