Primoris Services (NYSE:PRIM) Price Target Cut to $100.00 by Analysts at Cantor Fitzgerald

Primoris Services (NYSE:PRIM) had its price target reduced by stock analysts at Cantor Fitzgerald from $124.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 6.54% from the stock’s previous close.

Several other research firms have also recently weighed in on PRIM. Mizuho lowered their price target on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and set a $102.00 price objective for the company in a report on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of Primoris Services in a research report on Tuesday. Weiss Ratings lowered Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Needham & Company LLC dropped their price target on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.67.

Primoris Services Stock Performance

PRIM stock traded up $1.17 during midday trading on Thursday, reaching $93.86. 114,911 shares of the company were exchanged, compared to its average volume of 1,401,141. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day moving average price of $127.66 and a two-hundred day moving average price of $137.91. Primoris Services has a one year low of $65.00 and a one year high of $205.50. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 20.29 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last issued 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). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts forecast that Primoris Services will post 4.55 EPS for the current year.

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primoris Services

Several hedge funds have recently bought and sold shares of PRIM. Harbour Investments Inc. acquired a new stake in shares of Primoris Services in the 4th quarter valued at approximately $33,000. Root Financial Partners LLC lifted its stake in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Primoris Services in the 2nd quarter valued at approximately $34,000. Cullen Frost Bankers Inc. boosted its position in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Primoris Services by 34.5% in 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. 91.82% of the stock is owned by institutional investors.

Primoris Services News Summary

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

• Positive Sentiment: Goldman Sachs upgraded Primoris Services from sell to neutral and set a $102 price target, suggesting some upside from recent levels and offering a modest counterbalance to the negative news flow. Goldman Sachs upgrade via Finviz
• Neutral Sentiment: KeyCorp cut its FY2027 EPS estimate to $5.09 from $5.87, reflecting lower earnings expectations but leaving its overall view at Sector Weight.
• Neutral Sentiment: Mizuho lowered its price target to $117 while keeping an outperform rating, indicating analysts still see long-term value despite the near-term turmoil. Mizuho price target cut via Benzinga
• Negative Sentiment: Multiple law firms have launched securities-fraud investigations into Primoris, which can weigh on sentiment and raise legal overhang concerns for investors.
• Negative Sentiment: Recent articles highlight that the company’s renewables execution issues have widened, contributing to steep stock declines after the May earnings miss and the new operational shock.

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. 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.