Primoris Services (NYSE:PRIM) Given New $127.00 Price Target at Guggenheim

Primoris Services (NYSE:PRIM) had its price target cut by investment analysts at Guggenheim from $162.00 to $127.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 51.02% from the stock’s current price.

Several other brokerages have also recently commented on PRIM. Wall Street Zen lowered shares of Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Mizuho decreased their target price on Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Wells Fargo & Company cut their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $100.00 price target on shares of Primoris Services in a research note on Monday, July 20th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Primoris Services currently has a consensus rating of “Moderate Buy” and an average target price of $135.13.

Primoris Services Price Performance

Primoris Services stock traded up $0.69 during midday trading on Thursday, reaching $84.09. The company’s stock had a trading volume of 52,169 shares, compared to its average volume of 1,449,417. The business has a 50-day moving average price of $96.62 and a 200-day moving average price of $129.11. Primoris Services has a 52 week low of $65.00 and a 52 week high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.56 billion, a PE ratio of 32.67 and a beta of 1.43.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.87% and a net margin of 1.92%.The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $1.68 EPS. Primoris Services’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, sell-side analysts predict that Primoris Services will post 1.87 EPS for the current year.

Insider Activity at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the transaction, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primoris Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in Primoris Services in the fourth quarter worth $33,000. Root Financial Partners LLC lifted its position in Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Primoris Services during the second quarter valued at approximately $34,000. Cullen Frost Bankers Inc. grew its holdings in shares of Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after buying an additional 194 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services News Summary

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Record backlog and maintained outlook: Primoris reported a record backlog of approximately $13.9 billion, including $8.2 billion of master service agreement backlog. Management maintained its 2026 adjusted earnings outlook of $1.30 to $1.85 per share, providing some support for the longer-term growth case. Primoris Reports Q2 Loss as Revenue Falls
• Positive Sentiment: Quarterly earnings exceeded the loss estimate: Primoris reported a second-quarter loss of $0.27 per share, better than the consensus estimate for a $0.35 loss. Cantor Fitzgerald reaffirmed its “neutral” rating but assigned a $100 price target, implying potential upside from recent trading levels. Primoris Services Quarterly Earnings
• Neutral Sentiment: Dividend maintained: The board declared a quarterly dividend of $0.08 per share, payable October 15 to shareholders of record September 30. The modest payout offers limited direct income support but signals continued shareholder distributions.
• Negative Sentiment: Revenue missed expectations and fell sharply year over year: Second-quarter revenue was approximately $1.69 billion, below the $1.73 billion analyst estimate and down 10.7% from the prior-year period. Energy revenue declined 19.2% to $999.9 million, while utilities revenue increased 2.8% to $712.6 million. The company swung from $1.68 in earnings per share a year earlier to a quarterly loss, with renewable-project margin pressure weighing on results. Primoris Reports Q2 Loss and Revenue Miss
• Negative Sentiment: Securities class-action litigation adds uncertainty: Multiple law firms publicized a previously filed lawsuit against Primoris and certain current and former executives. The allegations include misleading investors about project-management capabilities and understating costs and risks tied to fixed-price renewable-energy projects, including six solar projects. Investors who purchased shares between August 5, 2025, and June 22, 2026, have until September 21, 2026, to seek lead-plaintiff status. The allegations have not been proven, but the litigation creates potential legal, financial, and reputational risks. Primoris Securities Fraud Class Action Lawsuit

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.