Primoris Services (NASDAQ:PRIM) Stock Rating Upgraded by StockNews.com

Primoris Services (NASDAQ:PRIMGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

PRIM has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on Primoris Services from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Wednesday. DA Davidson reduced their price target on Primoris Services to $27.00 in a report on Monday, August 15th. Finally, Morgan Stanley reduced their price target on Primoris Services from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, September 9th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Primoris Services Stock Performance

Primoris Services stock opened at $22.34 on Friday. Primoris Services has a 12-month low of $15.90 and a 12-month high of $27.94. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $18.89 and its two-hundred day moving average price is $21.34. The stock has a market cap of $1.19 billion, a PE ratio of 9.97 and a beta of 1.22.

Institutional Trading of Primoris Services

Several institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its holdings in Primoris Services by 7.5% in the third quarter. Credit Suisse AG now owns 48,920 shares of the construction company’s stock valued at $795,000 after acquiring an additional 3,410 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Primoris Services in the third quarter valued at approximately $3,071,000. Dimensional Fund Advisors LP boosted its holdings in Primoris Services by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,921,353 shares of the construction company’s stock valued at $47,474,000 after acquiring an additional 86,155 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Primoris Services by 568.7% in the third quarter. Tower Research Capital LLC TRC now owns 13,139 shares of the construction company’s stock valued at $213,000 after acquiring an additional 11,174 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Primoris Services in the third quarter valued at approximately $191,000. 91.48% of the stock is currently owned by institutional investors.

About Primoris Services

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Primoris Services Corp. operates as a holding company, which engages in the provision of construction, fabrication, maintenance, replacement, and engineering services. It operates through the following segments: Utilities, Energy and Renewables, and Pipeline. The Utilities segment specializes in a range of services, including telecommunications and installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems.

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