Primoris Services (NASDAQ:PRIM)‘s stock had its “hold” rating reaffirmed by stock analysts at Stephens in a research report issued to clients and investors on Tuesday. They presently have a $28.00 price objective on the construction company’s stock. Stephens’ price objective would indicate a potential upside of 12.45% from the company’s current price.
Other research analysts also recently issued reports about the company. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 target price on shares of Primoris Services in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, BidaskClub downgraded Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Primoris Services currently has a consensus rating of “Hold” and an average price target of $30.75.
Primoris Services (NASDAQ PRIM) opened at $24.90 on Tuesday. Primoris Services has a 12 month low of $21.83 and a 12 month high of $30.00. The firm has a market capitalization of $1,280.00, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.
In related news, Director John P. Schauerman sold 50,000 shares of Primoris Services stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas Edward Mccormick purchased 5,266 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $20.87 per share, for a total transaction of $109,901.42. Following the completion of the purchase, the chief operating officer now owns 9,045 shares of the company’s stock, valued at $188,769.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 16,327 shares of company stock worth $340,744 and sold 63,057 shares worth $1,759,706. 24.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its position in Primoris Services by 8.2% during the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after purchasing an additional 320 shares in the last quarter. First Quadrant L P CA boosted its position in Primoris Services by 109.4% during the third quarter. First Quadrant L P CA now owns 4,356 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,276 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Primoris Services during the third quarter worth $152,000. Great West Life Assurance Co. Can boosted its position in Primoris Services by 159.1% during the third quarter. Great West Life Assurance Co. Can now owns 5,985 shares of the construction company’s stock worth $175,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Primoris Services during the third quarter worth $203,000. Institutional investors own 69.74% of the company’s stock.
Primoris Services Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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