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.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $648.79 million during the quarter, compared to the consensus estimate of $593.65 million. Primoris Services had a return on equity of 8.23% and a net margin of 2.37%. On average, equities research analysts forecast that Primoris Services will post 1.63 earnings per share for the current year.

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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