KeyCorp Issues Pessimistic Forecast for Primoris Services (NYSE:PRIM) Stock Price
by Teresa Graham · The Cerbat GemPrimoris Services (NYSE:PRIM – Get Free Report) had its price target dropped by equities researchers at KeyCorp from $179.00 to $137.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 30.24% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. UBS Group increased their price target on Primoris Services from $176.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, May 4th. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Guggenheim increased their price target on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.87.
Get Our Latest Stock Analysis on PRIM
Primoris Services Price Performance
Shares of NYSE PRIM opened at $105.19 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.70 billion, a PE ratio of 23.17 and a beta of 1.50. Primoris Services has a 1-year low of $67.15 and a 1-year high of $205.50. The stock’s fifty day moving average is $150.65.
Primoris Services (NYSE:PRIM – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 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 during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. 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 5.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Primoris Services by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,767 shares of the company’s stock valued at $1,397,000 after purchasing an additional 223 shares during the period. Piar LLC acquired a new position in shares of Primoris Services in the first quarter valued at about $300,000. WCM Investment Management LLC acquired a new position in shares of Primoris Services in the first quarter valued at about $16,696,000. KBC Group NV increased its holdings in shares of Primoris Services by 14.5% in the first quarter. KBC Group NV now owns 1,824 shares of the company’s stock valued at $261,000 after purchasing an additional 231 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Primoris Services by 0.4% in the first quarter. Swiss National Bank now owns 106,900 shares of the company’s stock valued at $15,291,000 after purchasing an additional 400 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.
Primoris Services News Summary
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Premier PV, a Primoris Services subsidiary, said it reached $55 million in backlog, signaling continued project demand and potential future revenue. Article: Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog
- Neutral Sentiment: Needham lowered its price target on Primoris from $205 to $188 but kept a Buy rating, suggesting analysts still see meaningful upside despite recent weakness.
- Neutral Sentiment: Wells Fargo cut its price target from $168 to $118 and maintained an Equal Weight rating, reflecting a more cautious near-term view while still implying some upside from current levels.
- Neutral Sentiment: Recent commentary on valuation after weak Q1 results and lower profit guidance highlights that the stock may now be trading on reduced expectations rather than growth momentum. Article: A Look At Primoris Services (PRIM) Valuation After Weak Q1 2026 Results And Lower Profit Guidance
- Negative Sentiment: Primoris reported Q1 revenue of $1.6 billion, which was down year over year, and the company’s earnings miss plus lowered guidance prompted a sharp re-rating of the stock. Article: Primoris Services Corporation Q1 2026 Earnings Call Summary
- Negative Sentiment: Multiple law firms announced investigations into possible securities-law violations at Primoris, adding an overhang that can pressure investor sentiment. Article: INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primoris Services Corporation – PRIM Article: Primoris Services Corp. Investigated for Securities Fraud; Investors Should Contact Block & Leviton to Possibly Recover Losses
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.