Primoris Services (NYSE:PRIM) Price Target Raised to $184.00 at Guggenheim

Primoris Services (NYSE:PRIM) had its price target increased by analysts at Guggenheim from $170.00 to $184.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 28.53% from the company’s current price.

Other research analysts have also issued research reports about the company. Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. The Goldman Sachs Group lifted their price objective 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 objective on shares of Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Finally, Mizuho raised their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten 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 MarketBeat.com, Primoris Services currently has a consensus rating of “Moderate Buy” and an average price target of $154.13.

Primoris Services Stock Up 6.5%

NYSE PRIM opened at $143.16 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. Primoris Services has a 52-week low of $49.10 and a 52-week high of $174.43. The business’s 50-day moving average is $149.35. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 28.46 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Institutional Investors Weigh In On Primoris Services

Several institutional investors have recently made changes to their positions in PRIM. Hsbc Holdings PLC increased its holdings in shares of Primoris Services by 60.6% in the 4th quarter. Hsbc Holdings PLC now owns 10,686 shares of the company’s stock valued at $1,322,000 after purchasing an additional 4,032 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Primoris Services by 5.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,925 shares of the company’s stock worth $487,000 after buying an additional 190 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Primoris Services by 5.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 121,701 shares of the company’s stock worth $15,108,000 after buying an additional 6,422 shares in the last quarter. State of Tennessee Department of Treasury grew its position in Primoris Services by 1,703.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 21,535 shares of the company’s stock worth $2,673,000 after buying an additional 20,341 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in Primoris Services in the fourth quarter valued at about $246,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

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.