Primoris Services (NYSE:PRIM) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Primoris Services (NYSE:PRIM) from a strong-buy rating to a buy rating in a research report released on Sunday.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company raised Primoris Services to an “equal weight” rating in a research report on Thursday, November 13th. The Goldman Sachs Group raised shares of Primoris Services to a “strong sell” rating in a research note on Monday, November 24th. Weiss Ratings assumed coverage on shares of Primoris Services in a report on Thursday, October 23rd. They issued a “buy (b)” rating on the stock. Needham & Company LLC raised shares of Primoris Services to a “moderate buy” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Primoris Services Trading Up 2.7%

Shares of NYSE PRIM opened at $137.83 on Friday. The business has a fifty day moving average of $126.52. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.86 and a beta of 1.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.20 and a current ratio of 1.20. Primoris Services has a 1-year low of $49.10 and a 1-year high of $146.16.

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.