Primoris Services (NYSE:PRIM) Price Target Cut to $186.00 by Analysts at UBS Group

Primoris Services (NYSE:PRIM) had its target price cut by UBS Group from $212.00 to $186.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 62.93% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. KeyCorp cut their price target on Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday. Guggenheim raised their price objective on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and cut their target price for the company from $175.00 to $135.00 in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.60.

Primoris Services Price Performance

Shares of NYSE:PRIM traded up $9.36 during trading hours on Monday, hitting $114.16. The company’s stock had a trading volume of 3,394,787 shares, compared to its average volume of 1,049,365. The company’s fifty day moving average is $150.65. Primoris Services has a 52 week low of $68.52 and a 52 week high of $205.50. The firm has a market capitalization of $6.19 billion, a P/E ratio of 25.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts predict that Primoris Services will post 5.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Primoris Services

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Primoris Services during the third quarter worth $1,726,000. Nordea Investment Management AB acquired a new position in shares of Primoris Services in the 4th quarter valued at $7,181,000. J.W. Cole Advisors Inc. purchased a new position in Primoris Services in the 3rd quarter worth $1,193,000. Leuthold Group LLC lifted its position in Primoris Services by 1,350.3% during the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after acquiring an additional 45,572 shares during the period. Finally, Federated Hermes Inc. lifted its position in Primoris Services by 3.5% during the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock worth $49,422,000 after acquiring an additional 12,091 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.