Primoris Services Corporation (NYSE:PRIM) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Primoris Services, with 11 buy, 5 hold and 1 sell rating among 17 analysts. The average 12-month price target is $137.47.
• Primoris reported quarterly EPS of $0.59 and revenue of $1.56 billion, missing estimates of $0.87 and $1.73 billion, respectively; revenue declined 5.4% year over year. Shares opened at $84.26, well below their 52-week high of $205.50.
• Legal and operational concerns are weighing on the outlook: a proposed securities class action alleges misleading disclosures about project-management capabilities and cites cost overruns, renewable-project execution issues and a 2026 guidance reset.

Shares of Primoris Services Corporation (NYSE:PRIM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $137.4667.

Several brokerages have issued reports on PRIM. Needham & Company LLC cut their target price on Primoris Services from $188.00 to $172.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Mizuho decreased their price target on shares of Primoris Services from $135.00 to $117.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 23rd. Oppenheimer assumed coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $135.00 price objective for the company. UBS Group reduced their target price on shares of Primoris Services from $212.00 to $186.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. upgraded shares of Primoris Services from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $105.00 to $116.00 in a research report on Monday, June 29th.

Primoris Services Trading Down 0.2%

NYSE PRIM opened at $84.26 on Monday. The stock's 50-day simple moving average is $98.93 and its two-hundred day simple moving average is $130.24. Primoris Services has a twelve month low of $65.00 and a twelve month high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 18.56 and a beta of 1.43.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company's revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts forecast that Primoris Services will post 1.87 EPS for the current fiscal year.

Primoris Services News Roundup

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

• Neutral Sentiment: Several law firms reminded investors that September 21, 2026 is the deadline to seek appointment as lead plaintiff. The proposed class covers investors who purchased Primoris securities from August 5, 2025 through June 22, 2026. Deadline Alert: Primoris Services Corporation Shareholders
• Negative Sentiment: The lawsuit alleges that Primoris and certain current and former executives misled investors about the company’s project-management capabilities. The claims could create legal costs, reputational damage and additional uncertainty regarding prior disclosures. Primoris Faces Securities Class Action
• Negative Sentiment: Investor notices tie the case to persistent project-cost and execution issues, including problems involving six renewable-energy projects and a June 2026 guidance reset. Reports also reference a COO departure, adding to concerns about management and operational stability. Primoris Timeline Disclosure Events
• Negative Sentiment: The legal overhang follows Primoris’s latest reported quarter, in which earnings and revenue missed analyst expectations and revenue declined year over year. The company’s previously issued fiscal 2026 EPS guidance of $4.80–$5.00 remains an important benchmark as investors assess whether project issues are contained.

Insider Transactions at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 14,941 shares of the company's stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the stock in a transaction dated 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 sale, the insider 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 SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Primoris Services

Several hedge funds and other institutional investors have recently bought and sold shares of PRIM. Root Financial Partners LLC boosted its position in Primoris Services by 43.1% during 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 during the period. Cullen Frost Bankers Inc. increased its position in shares of Primoris Services by 30.1% in the fourth 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. Covestor Ltd raised its stake in shares of Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company's stock valued at $89,000 after acquiring an additional 85 shares during the last quarter. CWM LLC boosted its holdings in shares of Primoris Services by 1.1% during the fourth 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. Finally, 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 worth $78,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 91.82% of the company's stock.

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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