UBS Group Cuts Primoris Services (NYSE:PRIM) Price Target to $186.00

Primoris Services (NYSE:PRIM) had its price objective decreased by UBS Group from $212.00 to $186.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 62.93% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC cut their price target on Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Wells Fargo & Company lowered their target price on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings lowered Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $175.00 to $135.00 in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.60.

Primoris Services Trading Up 8.9%

NYSE PRIM traded up $9.36 on Monday, hitting $114.16. 3,394,787 shares of the company’s stock traded hands, compared to its average volume of 1,049,365. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services has a 1-year low of $68.52 and a 1-year high of $205.50. The stock’s 50-day moving average price is $150.65. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 25.14 and a beta of 1.50.

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 analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts anticipate that Primoris Services will post 5.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Primoris Services

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Primoris Services by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,767 shares of the company’s stock worth $1,397,000 after acquiring an additional 223 shares during the period. Piar LLC purchased a new position in Primoris Services during the first quarter valued at $300,000. WCM Investment Management LLC acquired a new stake in shares of Primoris Services in the first quarter valued at about $16,696,000. KBC Group NV grew its position in shares of Primoris Services by 14.5% in the first quarter. KBC Group NV now owns 1,824 shares of the company’s stock valued at $261,000 after purchasing an additional 231 shares during the period. Finally, Swiss National Bank increased its stake in shares of Primoris Services by 0.4% during the first quarter. Swiss National Bank now owns 106,900 shares of the company’s stock worth $15,291,000 after purchasing an additional 400 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.