Primoris Services (NYSE:PRIM) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Primoris Services (NYSE:PRIM) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC raised shares of Primoris Services to a “moderate buy” rating in a research report on Wednesday, October 22nd. Zacks Research cut shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Wells Fargo & Company upgraded Primoris Services to an “equal weight” rating in a research note on Thursday, November 13th. Weiss Ratings initiated coverage on Primoris Services in a research report on Thursday, October 23rd. They issued a “buy (b)” rating for the company. Finally, The Goldman Sachs Group upgraded Primoris Services to a “strong sell” rating in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Primoris Services Stock Performance

Primoris Services stock opened at $130.15 on Friday. Primoris Services has a 52 week low of $49.10 and a 52 week high of $146.16. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.80 and a beta of 1.36. The business has a 50-day simple moving average of $126.49.

About Primoris Services

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.