Primoris Services (NYSE:PRIM) Shares Gap Down – Time to Sell?

Primoris Services Corporation (NYSE:PRIM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $165.64, but opened at $139.16. Primoris Services shares last traded at $159.57, with a volume of 535,108 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRIM. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a research report on Tuesday, January 20th. Zacks Research lowered Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Wall Street Zen downgraded Primoris Services from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Wells Fargo & Company upgraded Primoris Services to an “equal weight” rating in a research report on Thursday, November 13th. Finally, Guggenheim raised shares of Primoris Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Primoris Services Price Performance

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 stock has a market capitalization of $8.53 billion, a PE ratio of 31.15 and a beta of 1.37. The company has a 50 day moving average of $143.97.

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.