Primoris Services (NYSE:PRIM) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Primoris Services (NYSE:PRIM) had its target price lifted by research analysts at Cantor Fitzgerald from $113.00 to $124.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 15.36% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Wolfe Research started coverage on Primoris Services in a research note on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price for the company. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. The Goldman Sachs Group boosted their price objective on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th. Needham & Company LLC dropped their price objective on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Trading Down 1.1%

Shares of PRIM opened at $107.49 on Tuesday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 23.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. Primoris Services has a fifty-two week low of $68.52 and a fifty-two week high of $205.50. The firm has a 50 day moving average price of $145.60 and a 200-day moving average price of $140.81.

Primoris Services (NYSE:PRIM) last issued its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts forecast that Primoris Services will post 4.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. raised its holdings in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Harbour Investments Inc. bought a new stake in shares of Primoris Services during the 4th quarter valued at about $33,000. Root Financial Partners LLC increased its position in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. bought a new position in Primoris Services in the second quarter worth about $34,000. Finally, Cullen Frost Bankers Inc. bought a new position in Primoris Services in the third quarter worth about $37,000. 91.82% of the stock is 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.