Zacks Research Upgrades Primoris Services (NYSE:PRIM) to "Hold"

Key Points

• Zacks Research upgraded Primoris Services from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with 11 Buy and six Hold ratings and a $132.27 average price target.
• PRIM shares opened at $74.83, well below their 12-month high of $205.50. The company beat its quarterly loss-per-share estimate, but revenue fell 10.7% year over year to $1.69 billion.
• Legal and operational risks are rising: investor lawsuits allege Primoris understated costs and delayed recognition of weakening renewable-energy project margins; the allegations remain unproven.

Primoris Services (NYSE:PRIM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on PRIM. Mizuho cut their price target on shares of Primoris Services from $135.00 to $117.00 and set an "outperform" rating for the company in a report on Tuesday, June 23rd. UBS Group reaffirmed a "neutral" rating on shares of Primoris Services in a research note on Monday, August 10th. Cantor Fitzgerald raised their price objective on shares of Primoris Services from $100.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Needham & Company LLC cut their target price on shares of Primoris Services from $188.00 to $172.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Finally, Oppenheimer initiated coverage on Primoris Services in a report on Tuesday, July 7th. They issued an "outperform" rating and a $135.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $132.27.

Primoris Services Stock Down 0.4%

Shares of PRIM opened at $74.83 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $87.19 and a two-hundred day moving average price of $122.21. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 29.35 and a beta of 1.43. Primoris Services has a 12 month low of $65.00 and a 12 month high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $1.68 EPS. The company's revenue was down 10.7% compared to the same quarter last year. Equities analysts predict that Primoris Services will post 1.76 EPS for the current fiscal year.

Insider Activity

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 transaction of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares of the company's stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC grew its holdings in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company's stock valued at $33,000 after buying an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company's stock worth $43,000 after buying an additional 81 shares during the period. Covestor Ltd lifted its holdings in shares of Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company's stock worth $89,000 after buying an additional 85 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Primoris Services by 18.6% in the fourth quarter. IFP Advisors Inc now owns 626 shares of the company's stock valued at $78,000 after acquiring an additional 98 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Primoris Services by 2.5% in the fourth quarter. TD Private Client Wealth LLC now owns 4,183 shares of the company's stock valued at $519,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 91.82% of the company's stock.

Primoris Services News Summary

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

• Positive Sentiment: Primoris retains potential recovery upside from its broad infrastructure exposure and record backlog, according to a comparison with Argan. However, the article characterized Argan as having stronger growth, backlog and return on equity. Argan vs. Primoris Services: Which Stock Offers More Growth Potential?
• Neutral Sentiment: The class action covers investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Eligible investors have until September 21, 2026, to seek appointment as lead plaintiff; the deadline does not determine the lawsuit’s merits or guarantee investor recovery. Robbins Geller Primoris Class Action Alert
• Negative Sentiment: Several law firms—including Pomerantz, Frank R. Cruz, Glancy Prongay, Robbins Geller and others—are promoting the lawsuit, amplifying investor attention and potential reputational, legal and financial risks for Primoris. Pomerantz Primoris Investor Alert
• Negative Sentiment: The complaint alleges Primoris understated costs and failed to promptly recognize deteriorating margins on renewable-energy construction projects, while making misleading statements about cost forecasting, project oversight and profitability. These allegations are unproven, but they raise concerns about project controls and earnings quality. Robbins LLP Primoris Class Action Reminder

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.

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