Primoris Services (NYSE:PRIM) Price Target Raised to $171.00 at JPMorgan Chase & Co.
by Mitch Edgeman · The Markets DailyPrimoris Services (NYSE:PRIM – Get Free Report) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $165.00 to $171.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.20% from the stock’s current price.
PRIM has been the subject of several other research reports. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Wells Fargo & Company lifted their target price on Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. 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. Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Finally, UBS Group lifted their price objective on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and an average target price of $154.53.
Check Out Our Latest Report on PRIM
Primoris Services Stock Performance
PRIM traded up $8.02 during trading on Wednesday, reaching $151.06. 738,837 shares of the company traded hands, compared to its average volume of 789,100. The stock has a market capitalization of $8.19 billion, a P/E ratio of 30.03 and a beta of 1.36. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services has a 12-month low of $49.10 and a 12-month high of $174.43. The business’s fifty day simple moving average is $149.35.
Primoris Services (NYSE:PRIM – Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. Primoris Services’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PRIM. SBI Securities Co. Ltd. lifted its stake in shares of Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services in the 3rd quarter worth approximately $37,000. Harbour Investments Inc. bought a new position in shares of Primoris Services during the 4th quarter valued at approximately $33,000. Blue Bell Private Wealth Management LLC purchased a new stake in Primoris Services during the 3rd quarter valued at $37,000. Finally, McIlrath & Eck LLC raised its holdings in Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after buying an additional 145 shares during the period. Institutional investors own 91.82% of the company’s stock.
Primoris Services News Roundup
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Primoris agreed to acquire PayneCrest Electric for $422 million, broadening its electrical construction capabilities and increasing exposure to the fast‑growing data center services market — a strategic move that should boost its Energy segment and cross‑sell opportunities. Business Wire: PayneCrest Acquisition
- Positive Sentiment: Guggenheim raised its price target to $184 and maintained a Buy rating, signaling analyst conviction and providing upside to consensus valuation assumptions that can support the rally. TickerReport: Guggenheim PT Raise
- Positive Sentiment: Primoris is benefiting from rising investments in power delivery, renewables and natural gas projects; articles note backlog growth and stronger revenue visibility for 2026, which dampens execution risk and supports forward earnings. Zacks: Backlog Growth
- Positive Sentiment: Recent contract wins such as the Cormorant energy storage award improve near‑term revenue visibility and validate the firm’s positioning in energy storage and grid projects. Yahoo Finance: Cormorant Contract
- Neutral Sentiment: Market consensus on brokerages skews toward “Moderate Buy,” indicating broad but not unanimous enthusiasm from the sell side. American Banking News: Broker Ratings
- Negative Sentiment: Potential near‑term risks include the cash outlay and integration execution from the $422M deal, which could temporarily pressure liquidity or margins if synergies take time to realize (watch balance sheet and free‑cash‑flow metrics).
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.