Primoris Services (PRIM) Rating Increased to Hold at BidaskClub
Primoris Services (NASDAQ:PRIM) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Other analysts also recently issued research reports about the company. DA Davidson upped their price target on Primoris Services to $34.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. ValuEngine upgraded Primoris Services from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. Finally, Zacks Investment Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Primoris Services currently has a consensus rating of “Hold” and a consensus price target of $30.75.
PRIM opened at $22.61 on Thursday. The stock has a market cap of $1.28 billion, a PE ratio of 19.66, a P/E/G ratio of 1.52 and a beta of 1.13. Primoris Services has a 52-week low of $22.34 and a 52-week high of $29.82. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.61.
In related news, CEO David Lee King sold 7,866 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.44, for a total transaction of $200,111.04. Following the completion of the sale, the chief executive officer now owns 6,242 shares in the company, valued at approximately $158,796.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen C. Cook sold 1,964 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $25.00, for a total value of $49,100.00. Following the sale, the director now owns 11,897 shares of the company’s stock, valued at approximately $297,425. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 734,833 shares of company stock valued at $18,475,786. 19.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Primoris Services during the 1st quarter valued at approximately $118,000. Jane Street Group LLC bought a new stake in shares of Primoris Services in the 2nd quarter worth approximately $202,000. Element Capital Management LLC bought a new stake in shares of Primoris Services in the 1st quarter worth approximately $221,000. Verition Fund Management LLC bought a new stake in shares of Primoris Services in the 1st quarter worth approximately $222,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Primoris Services in the 1st quarter worth approximately $253,000. Hedge funds and other institutional investors own 73.42% of the company’s stock.
About Primoris Services
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.
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