Primoris Services (NYSE:PRIM) Stock Price Expected to Rise, Guggenheim Analyst Says

Primoris Services (NYSE:PRIM) had its price target boosted by Guggenheim from $170.00 to $184.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 24.13% from the company’s previous close.

A number of other brokerages have also issued reports on PRIM. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group lifted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. DA Davidson set a $180.00 price objective on shares of Primoris Services in a report on Wednesday, February 25th. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.53.

Primoris Services Stock Performance

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

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results 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 return on equity of 18.67% and a net margin of 3.63%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company’s 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its holdings in Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services during the 3rd quarter valued at about $37,000. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the 4th quarter valued at about $33,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Primoris Services in the 3rd quarter valued at about $37,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.