Guggenheim Forecasts Strong Price Appreciation for Primoris Services (NYSE:PRIM) Stock

Primoris Services (NYSE:PRIM) had its target price raised by investment analysts at Guggenheim from $184.00 to $195.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 18.79% from the company’s current price.

PRIM has been the subject of several other research reports. Wells Fargo & Company increased their price target on shares of Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. Zacks Research lowered shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. UBS Group upped their price target on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services has an average rating of “Moderate Buy” and an average price target of $157.00.

Primoris Services Trading Down 0.4%

PRIM stock opened at $164.15 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $150.93. Primoris Services has a 12 month low of $53.13 and a 12 month high of $174.43. The firm has a market cap of $8.90 billion, a P/E ratio of 32.95 and a beta of 1.38.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC increased its holdings in shares of Primoris Services by 2.1% in the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the company’s stock valued at $536,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. raised its position in Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Primoris Services by 9.7% in the 3rd quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after acquiring an additional 84 shares during the period. Covestor Ltd lifted its stake in shares of Primoris Services by 13.4% in the 4th quarter. Covestor Ltd now owns 719 shares of the company’s stock worth $89,000 after acquiring an additional 85 shares during the period. Finally, CWM LLC boosted its holdings in shares of Primoris Services by 1.1% in the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock valued at $1,114,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.