Primoris Services (NYSE:PRIM) Sets New 52-Week High – Time to Buy?

Primoris Services Corporation (NYSE:PRIM) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $158.00 and last traded at $155.09, with a volume of 556059 shares changing hands. The stock had previously closed at $152.84.

Analyst Ratings Changes

PRIM has been the subject of a number of research analyst reports. Cantor Fitzgerald raised shares of Primoris Services to a “hold” rating in a report on Friday, January 23rd. Guggenheim raised shares of Primoris Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Zacks Research lowered shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group raised Primoris Services to a “strong sell” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Primoris Services has a consensus rating of “Hold”.

Primoris Services Stock Up 8.7%

The company has a market cap of $8.69 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. The stock’s 50 day moving average is $136.12. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.26.

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.