Primoris Services (NYSE:PRIM) Raised to Outperform at Mizuho

Key Points

• Mizuho upgraded Primoris Services from “neutral” to “outperform,” setting a $135 price target. That target still implies about 28% upside from the prior close.
• Analyst sentiment remains mixed overall: the consensus rating is Moderate Buy with an average target price of $160.33, but several firms recently cut their targets or ratings.
• Primoris recently reported weaker-than-expected quarterly results, missing EPS and revenue estimates, though the company maintained FY 2026 guidance of 4.80–5.00 EPS.

Primoris Services (NYSE:PRIM - Get Free Report) was upgraded by stock analysts at Mizuho from a "neutral" rating to an "outperform" rating in a research report issued on Monday,Benzinga reports. The brokerage presently has a $135.00 price target on the stock, down from their prior price target of $175.00. Mizuho's price objective suggests a potential upside of 28.34% from the stock's previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. KeyCorp cut their price objective on Primoris Services from $179.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday. Weiss Ratings lowered Primoris Services from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. Wells Fargo & Company cut their price objective on Primoris Services from $168.00 to $118.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, DA Davidson set a $180.00 price objective on Primoris Services in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Primoris Services has a consensus rating of "Moderate Buy" and an average target price of $160.33.

Primoris Services Price Performance

Primoris Services stock opened at $105.19 on Monday. Primoris Services has a 12 month low of $67.15 and a 12 month high of $205.50. The stock has a market capitalization of $5.71 billion, a PE ratio of 23.17 and a beta of 1.50. 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 50 day simple moving average of $150.65.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter last year, the business earned $0.98 EPS. The company's quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts anticipate that Primoris Services will post 5.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Primoris Services in the third quarter valued at approximately $1,726,000. J.W. Cole Advisors Inc. acquired a new position in Primoris Services in the third quarter valued at approximately $1,193,000. Nordea Investment Management AB acquired a new position in Primoris Services in the fourth quarter valued at approximately $7,181,000. Leuthold Group LLC lifted its holdings in Primoris Services by 1,350.3% in the third quarter. Leuthold Group LLC now owns 48,947 shares of the company's stock valued at $6,722,000 after acquiring an additional 45,572 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Primoris Services by 3.5% in the third quarter. Federated Hermes Inc. now owns 359,876 shares of the company's stock valued at $49,422,000 after acquiring an additional 12,091 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

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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