Primoris Services (NYSE:PRIM) Upgraded to Neutral at The Goldman Sachs Group

Primoris Services (NYSE:PRIM) was upgraded by equities researchers at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $102.00 target price on the stock. The Goldman Sachs Group’s price target points to a potential upside of 10.48% from the stock’s previous close.

A number of other analysts have also issued reports on PRIM. Guggenheim restated a “buy” rating and issued a $162.00 price target on shares of Primoris Services in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Mizuho reduced their price objective on Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company dropped their target price on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.27.

Primoris Services Stock Performance

Shares of PRIM stock opened at $92.33 on Thursday. The company’s fifty day moving average price is $127.66 and its two-hundred day moving average price is $137.91. 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 firm has a market capitalization of $5.01 billion, a P/E ratio of 20.34 and a beta of 1.36. Primoris Services has a 12 month low of $65.00 and a 12 month high of $205.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $0.98 EPS. The company’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 4.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors and hedge funds have recently bought and sold shares of PRIM. Root Financial Partners LLC raised its holdings in shares of Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Harbour Investments Inc. bought a new stake in shares of Primoris Services during the 4th quarter worth $33,000. Salomon & Ludwin LLC acquired a new position in shares of Primoris Services in the 4th quarter worth $44,000. Cullen Frost Bankers Inc. grew 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 worth $43,000 after acquiring an additional 81 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Primoris Services by 120.4% during the fourth quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock worth $44,000 after purchasing an additional 195 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Key Primoris Services News

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

• Positive Sentiment: Guggenheim reiterated a Buy rating and a $162 price target, suggesting meaningful upside if execution improves.
• Neutral Sentiment: KeyCorp kept a Sector Weight rating but lowered FY2027 EPS estimates to $5.09 from $5.87, reflecting a more cautious longer-term outlook.
• Neutral Sentiment: Mizuho cut its price target to $117 from $135 while keeping an Outperform rating, indicating analyst support remains but expectations have been reset.
• Negative Sentiment: Primoris cut FY2026 EPS guidance to $2.05-$2.60, a major reset from earlier expectations and a key reason for the stock’s decline.
• Negative Sentiment: The company disclosed additional challenges and cost overruns in its renewables projects, raising concerns about margins and project execution. Article Title
• Negative Sentiment: COO Jeremy Kinch abruptly departed, adding to uncertainty around operations and near-term leadership stability. Article Title
• Negative Sentiment: Multiple law firms launched securities-fraud investigations and shareholder alerts, which can further weigh on sentiment and amplify volatility.

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.