Primoris Services (NYSE:PRIM) Price Target Cut to $117.00 by Analysts at Mizuho

Key Points

• Mizuho cut its price target on Primoris Services from $135 to $117, while keeping an outperform rating on the stock. The new target still implies meaningful upside from the current share price.
• The stock traded sharply lower after the note, falling to $79.06 on heavy volume. Primoris also remains well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: several firms have lowered targets or kept neutral stances, while the company recently reported weaker-than-expected earnings and revenue and set FY 2026 guidance at 4.80–5.00 EPS.

Primoris Services (NYSE:PRIM - Get Free Report) had its price target lowered by Mizuho from $135.00 to $117.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price target would indicate a potential upside of 47.99% from the stock's current price.

Several other brokerages have also weighed in on PRIM. KeyCorp reaffirmed a "sector weight" rating on shares of Primoris Services in a research note on Tuesday. Cantor Fitzgerald restated a "neutral" rating on shares of Primoris Services in a report on Tuesday, June 9th. Wolfe Research reissued an "outperform" rating and issued a $149.00 price target on shares of Primoris Services in a research report on Monday, June 15th. UBS Group cut their price objective on Primoris Services from $212.00 to $186.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Finally, Needham & Company LLC lowered their target price on Primoris Services from $205.00 to $188.00 and set a "buy" rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $148.33.

Primoris Services Price Performance

Primoris Services stock traded down $29.28 during trading on Tuesday, reaching $79.06. The company had a trading volume of 4,514,773 shares, compared to its average volume of 1,324,757. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $4.29 billion, a PE ratio of 17.53 and a beta of 1.37. Primoris Services has a 1-year low of $65.00 and a 1-year high of $205.50. The firm's 50-day simple moving average is $130.63 and its 200 day simple moving average is $138.43.

Primoris Services (NYSE:PRIM - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business's revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts anticipate that Primoris Services will post 4.55 earnings per share for the current fiscal year.

Insider Transactions at Primoris Services

In other news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, 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 position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primoris Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in Primoris Services in the fourth quarter valued at $33,000. Root Financial Partners LLC boosted its position 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 buying an additional 69 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the 2nd quarter valued at about $34,000. Cullen Frost Bankers Inc. lifted its holdings 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 purchasing an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock valued at $43,000 after purchasing an additional 194 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Primoris Services

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

• Positive Sentiment: Guggenheim reaffirmed its Buy rating and set a $162 price target, indicating meaningful upside if the turnaround succeeds. Benzinga analyst rating update
• Positive Sentiment: Wells Fargo lowered its target to $85 but still sees some upside from the current trading level. Benzinga analyst rating update
• Neutral Sentiment: KeyCorp reiterated a Sector Weight rating, signaling a wait-and-see stance rather than a strong bullish or bearish view. Benzinga analyst rating update
• Negative Sentiment: The company reduced FY 2026 guidance after uncovering more renewables-related overruns and delays, sharply lowering expected EPS and EBITDA. Business Wire business update
• Negative Sentiment: The COO departure added to investor concerns about operational execution at a time when the company is already dealing with project issues. Business Wire business update
• Negative Sentiment: Law firms and a shareholder investigation headline suggest possible securities-law claims, which can add pressure to sentiment. GlobeNewswire shareholder investigation

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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