Primoris Services Co. (NASDAQ:PRIM) Receives Average Recommendation of “Buy” from Analysts

Primoris Services Co. (NASDAQ:PRIM) has received a consensus recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $91.50.

PRIM has been the subject of several analyst reports. DA Davidson boosted their price target on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Guggenheim began coverage on shares of Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target for the company. UBS Group upped their price target on shares of Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. boosted their price target on Primoris Services from $77.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director David Lee King sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $83.98, for a total value of $167,960.00. Following the completion of the transaction, the director now directly owns 23,818 shares in the company, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of Primoris Services during the 4th quarter valued at $27,000. Nisa Investment Advisors LLC grew its position in Primoris Services by 414.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock worth $42,000 after purchasing an additional 584 shares during the last quarter. Blue Trust Inc. raised its position in shares of Primoris Services by 27.3% during the third quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after buying an additional 197 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Primoris Services in the third quarter valued at about $59,000. Finally, Farther Finance Advisors LLC increased its stake in Primoris Services by 3,552.4% during the fourth quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company’s stock valued at $59,000 after acquiring an additional 746 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Shares of PRIM opened at $66.06 on Monday. The stock has a market cap of $3.55 billion, a P/E ratio of 21.87 and a beta of 1.14. The company has a 50-day moving average of $78.32 and a two-hundred day moving average of $69.51. Primoris Services has a 12-month low of $37.00 and a 12-month high of $90.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.