Roth Capital Reiterates Buy Rating for Primoris Services (NYSE:PRIM)

Primoris Services (NYSE:PRIM)‘s stock had its “buy” rating restated by Roth Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $100.00 price target on the stock. Roth Capital’s price target points to a potential upside of 14.18% from the stock’s current price.

Several other research firms have also recently weighed in on PRIM. Wolfe Research reaffirmed an “outperform” rating and set a $149.00 price objective on shares of Primoris Services in a research report on Monday, June 15th. The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and dropped their target price for the company from $107.00 to $102.00 in a research report on Thursday, June 25th. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Oppenheimer started coverage on Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Cantor Fitzgerald decreased their price target on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.47.

Primoris Services Trading Up 1.1%

Shares of NYSE:PRIM opened at $87.58 on Monday. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 19.29 and a beta of 1.41. Primoris Services has a 12 month low of $65.00 and a 12 month high of $205.50. The company’s fifty day simple moving average is $103.20 and its 200 day simple moving average is $132.76. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share 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 company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.98 earnings per share. Primoris Services’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. As a group, research analysts forecast that Primoris Services will post 1.87 EPS for the current fiscal year.

Insider Transactions at Primoris Services

In related 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 sale, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primoris Services

Several hedge funds and other institutional investors have recently made changes to their positions in PRIM. Root Financial Partners LLC increased its position in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the period. Cullen Frost Bankers Inc. lifted its position in Primoris Services by 30.1% during the fourth 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. Covestor Ltd lifted its position in Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company’s stock worth $89,000 after purchasing an additional 85 shares during the period. CWM LLC grew its stake in Primoris Services by 1.1% during the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after buying an additional 96 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Primoris Services by 18.6% during the fourth quarter. IFP Advisors Inc now owns 626 shares of the company’s stock worth $78,000 after buying an additional 98 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

About Primoris Services

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.