JPMorgan Chase & Co. Raises Primoris Services (NYSE:PRIM) Price Target to $171.00

Primoris Services (NYSE:PRIM) had its price target increased by investment analysts at JPMorgan Chase & Co. from $165.00 to $171.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.36% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Guggenheim lifted their price objective on Primoris Services from $170.00 to $184.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the company a “neutral” rating in a report on Tuesday, February 24th. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. UBS Group boosted their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Mizuho increased their price target on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and a consensus target price of $154.53.

Primoris Services Price Performance

Shares of PRIM opened at $148.23 on Wednesday. The company’s 50-day moving average is $149.31. The firm has a market capitalization of $8.04 billion, a PE ratio of 29.47 and a beta of 1.38. Primoris Services has a 1-year low of $49.10 and a 1-year high of $174.43. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company posted $1.13 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Hedge Funds Weigh In On Primoris Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its stake in shares of Primoris Services by 60.6% during the fourth quarter. Hsbc Holdings PLC now owns 10,686 shares of the company’s stock worth $1,322,000 after buying an additional 4,032 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Primoris Services by 5.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,925 shares of the company’s stock worth $487,000 after acquiring an additional 190 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Primoris Services by 5.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 121,701 shares of the company’s stock valued at $15,108,000 after purchasing an additional 6,422 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of Primoris Services by 1,703.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 21,535 shares of the company’s stock valued at $2,673,000 after purchasing an additional 20,341 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Primoris Services in the 4th quarter valued at $246,000. 91.82% of the stock is owned by institutional investors and hedge funds.

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.