Primoris Services (NYSE:PRIM) Upgraded by Guggenheim to Strong-Buy Rating

Guggenheim upgraded shares of Primoris Services (NYSE:PRIM) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on PRIM. Wells Fargo & Company raised Primoris Services to an “equal weight” rating in a research report on Thursday, November 13th. The Goldman Sachs Group upgraded Primoris Services to a “strong sell” rating in a research note on Monday, November 24th. Zacks Research lowered Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Weiss Ratings initiated coverage on Primoris Services in a report on Thursday, October 23rd. They set a “buy (b)” rating for the company. Finally, Needham & Company LLC raised Primoris Services to a “moderate buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Primoris Services Price Performance

Shares of NYSE PRIM traded down $2.79 during trading hours on Tuesday, hitting $135.22. 327,872 shares of the stock were exchanged, compared to its average volume of 660,288. Primoris Services has a one year low of $49.10 and a one year high of $146.16. The business’s 50 day moving average is $126.52. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.86 and a beta of 1.36.

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.