Primoris Services (NYSE:PRIM) Now Covered by Analysts at Wolfe Research

Key Points

• Wolfe Research initiated coverage on Primoris Services with an Outperform rating and a $183 price target, implying roughly a 17% upside from current levels.
• Primoris beat its latest quarter—EPS $1.08 vs. $0.95 expected and revenue $1.86B vs. $1.82B—and set FY2026 guidance of 5.80–6.00 EPS.
• The consensus is a Moderate Buy with an average target of $156.31 (1 Strong Buy, 11 Buy, 5 Hold, 1 Sell), and about 91.8% of shares are held by institutions.

Equities research analysts at Wolfe Research assumed coverage on shares of Primoris Services (NYSE:PRIM - Get Free Report) in a report released on Thursday. The brokerage set an "outperform" rating and a $183.00 price target on the stock. Wolfe Research's target price suggests a potential upside of 17.17% from the stock's current price.

Several other research analysts have also recently weighed in on PRIM. The Goldman Sachs Group boosted their price target on Primoris Services from $117.00 to $133.00 and gave the stock a "sell" rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded Primoris Services from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Mizuho upped their target price on shares of Primoris Services from $128.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Primoris Services currently has a consensus rating of "Moderate Buy" and an average target price of $156.31.

Primoris Services Price Performance

NYSE:PRIM opened at $156.18 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $149.31. The stock has a market cap of $8.47 billion, a P/E ratio of 31.05 and a beta of 1.38. Primoris Services has a 1-year low of $52.22 and a 1-year high of $174.43.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.13 EPS. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Primoris Services in the third quarter valued at about $1,726,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Primoris Services during the third quarter worth about $1,193,000. Nordea Investment Management AB purchased a new stake in shares of Primoris Services during the fourth quarter worth about $7,181,000. Leuthold Group LLC raised its stake in Primoris Services by 1,350.3% during the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company's stock valued at $6,722,000 after purchasing an additional 45,572 shares during the period. Finally, Federated Hermes Inc. raised its stake in Primoris Services by 3.5% during the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company's stock valued at $49,422,000 after purchasing an additional 12,091 shares during the period. 91.82% of the stock is owned by hedge funds and other institutional investors.

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.

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