Primoris Services (NYSE:PRIM) Given New $184.00 Price Target at Guggenheim

Primoris Services (NYSE:PRIM) had its price objective increased by investment analysts at Guggenheim from $170.00 to $184.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 28.53% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the stock a “neutral” rating in a report on Tuesday, February 24th. UBS Group upped their target price on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Mizuho increased their target price on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.13.

Primoris Services Price Performance

NYSE:PRIM opened at $143.16 on Wednesday. Primoris Services has a 12 month low of $49.10 and a 12 month high of $174.43. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 28.46 and a beta of 1.36. The company has a fifty day simple moving average of $149.35.

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

Institutional Investors Weigh In On Primoris Services

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