Primoris Services (NYSE:PRIM) Upgraded by Wells Fargo & Company to Hold Rating

Wells Fargo & Company upgraded shares of Primoris Services (NYSE:PRIM) to a hold rating in a research note released on Thursday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on PRIM. Needham & Company LLC raised Primoris Services to a “moderate buy” rating in a report on Wednesday, October 22nd. Wall Street Zen raised Primoris Services from a “buy” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings started coverage on Primoris Services in a report on Thursday, October 23rd. They set a “buy (b)” rating for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy”.

Primoris Services Price Performance

Shares of NYSE:PRIM traded up $2.57 during midday trading on Thursday, reaching $119.00. 783,913 shares of the company’s stock were exchanged, compared to its average volume of 893,594. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.20 and a current ratio of 1.20. Primoris Services has a 12 month low of $49.10 and a 12 month high of $146.16. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.85 and a beta of 1.45.

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.