Wall Street Zen Downgrades Primoris Services (NYSE:PRIM) to Hold

Primoris Services (NYSE:PRIM) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on PRIM. Guggenheim upgraded Primoris Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Cantor Fitzgerald upgraded Primoris Services to a “hold” rating in a research note on Friday, January 23rd. The Goldman Sachs Group upgraded Primoris Services to a “strong sell” rating in a research report on Monday, November 24th. Wells Fargo & Company raised Primoris Services to an “equal weight” rating in a report on Thursday, November 13th. Finally, Zacks Research cut shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Primoris Services currently has a consensus rating of “Hold”.

Primoris Services Stock Down 1.0%

Primoris Services stock opened at $150.47 on Friday. The firm has a 50-day moving average of $146.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $8.13 billion, a PE ratio of 29.91 and a beta of 1.36. Primoris Services has a twelve month low of $49.10 and a twelve month high of $174.43.

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.