Guggenheim Reaffirms Buy Rating for Primoris Services (NYSE:PRIM)

Primoris Services (NYSE:PRIM)‘s stock had its “buy” rating restated by analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They currently have a $162.00 target price on the stock. Guggenheim’s target price suggests a potential upside of 49.69% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Needham & Company LLC reduced their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings downgraded Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.73.

Primoris Services Stock Performance

Shares of NYSE:PRIM opened at $108.22 on Tuesday. The business has a 50-day moving average of $130.63 and a two-hundred day moving average of $138.43. The firm has a market capitalization of $5.87 billion, a PE ratio of 23.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services has a 12 month low of $73.89 and a 12 month high of $205.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, research analysts forecast that Primoris Services will post 4.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Primoris Services

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after buying an additional 194 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Primoris Services in the 1st quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock valued at $9,650,000 after acquiring an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Primoris Services during the 2nd quarter valued at approximately $274,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

More Primoris Services News

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: KeyCorp reaffirmed its “sector weight” rating on Primoris Services, signaling the stock still has some analyst support despite the recent setback. Benzinga / Tickerreport.com coverage
• Neutral Sentiment: Broader market weakness and lower U.S. stock futures may also be adding pressure to PRIM along with other stocks in Tuesday’s pre-market trading. Benzinga article
• Negative Sentiment: Primoris slashed 2026 guidance after identifying additional renewables cost overruns and delays, including a reduced EPS outlook of $2.05-$2.60 from $4.80-$5.00 and lower EBITDA expectations, which is the main reason the stock has been falling. Business Wire business update
• Negative Sentiment: Law firms and investors are now highlighting potential securities-related investigations tied to the company’s disclosures, which can further weigh on sentiment. GlobeNewswire investigation

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.