Primoris Services (NASDAQ:PRIM) Price Target Raised to $170.00

Primoris Services (NASDAQ:PRIM) had its price target boosted by investment analysts at Guggenheim from $160.00 to $170.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Guggenheim’s price target indicates a potential upside of 14.76% from the stock’s current price.

Several other analysts have also recently commented on the company. KeyCorp raised their target price on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group increased their target price on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $150.00 price objective on shares of Primoris Services in a report on Tuesday. Finally, Wells Fargo & Company began coverage on shares of Primoris Services in a research note on Friday, November 14th. They set an “equal weight” rating and a $138.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.60.

Primoris Services Stock Performance

Shares of Primoris Services stock traded down $3.78 during trading on Wednesday, hitting $148.14. 219,535 shares of the stock were exchanged, compared to its average volume of 743,155. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services has a 12 month low of $49.10 and a 12 month high of $174.43. The stock’s fifty day moving average is $144.43 and its 200 day moving average is $132.97. The stock has a market cap of $8.00 billion, a PE ratio of 48.86 and a beta of 1.37.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.13 EPS. Primoris Services’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. As a group, sell-side analysts anticipate that Primoris Services will post 3.26 EPS for the current year.

Insiders Place Their Bets

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the sale, the director owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the sale, the director directly owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Primoris Services

Several hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the fourth quarter valued at $33,000. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services during the second quarter valued at $34,000. Blue Bell Private Wealth Management LLC acquired a new position in Primoris Services during the third quarter valued at $37,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Primoris Services in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

About Primoris Services

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.