Primoris Services (NYSE:PRIM) Given New $115.00 Price Target at Oppenheimer

Primoris Services (NYSE:PRIM) had its target price dropped by analysts at Oppenheimer from $135.00 to $115.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer‘s target price indicates a potential upside of 94.95% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Roth Capital reissued a “buy” rating and set a $100.00 price objective on shares of Primoris Services in a research report on Monday, July 20th. Guggenheim lowered their target price on shares of Primoris Services from $162.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. UBS Group restated a “neutral” rating on shares of Primoris Services in a report on Monday, August 10th. Needham & Company LLC lowered their price target on shares of Primoris Services from $172.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $105.00 price objective on shares of Primoris Services in a report on Tuesday, September 29th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Primoris Services Stock Down 13.8%

Shares of PRIM traded down $9.46 during mid-day trading on Thursday, hitting $58.99. 949,545 shares of the company’s stock were exchanged, compared to its average volume of 1,420,513. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 33.06 and a beta of 1.44. Primoris Services has a twelve month low of $58.00 and a twelve month high of $205.50. The firm has a fifty day moving average of $75.15 and a two-hundred day moving average of $112.20.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.39. Primoris Services had a return on equity of 7.60% and a net margin of 1.36%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Primoris Services will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Primoris Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Primoris Services during the second quarter valued at approximately $677,685,000. Wellington Management Group LLP lifted its stake in shares of Primoris Services by 148.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company’s stock worth $463,434,000 after buying an additional 2,795,887 shares during the last quarter. First Trust Advisors LP lifted its position in Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after acquiring an additional 928,155 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in Primoris Services in the 2nd quarter valued at $3,482,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Primoris Services in the second quarter valued at about $39,645,000. 91.82% of the stock is owned by institutional investors.

Trending Headlines about Primoris Services

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Primoris reported third-quarter EPS of $1.20, ahead of analyst expectations. Management also expects Energy-segment margins to recover to 10%–12% in 2027, suggesting improvement after near-term operating challenges. Article: Primoris expects Energy segment margins to recover in 2027
• Negative Sentiment: Third-quarter revenue of $1.95 billion missed analyst estimates of $2.0 billion and fell 10.4% year over year. EPS also declined from $1.88 a year earlier, tempering the impact of the earnings beat. Article: Q3 sales missed analyst estimates
• Negative Sentiment: The company reset its 2026 EPS guidance to $1.20–$1.35, pointing to continued near-term pressure. Needham also lowered its price target to $110, adding to the cautious tone. Article: Primoris outlook and margin expectations Article: Needham lowers Primoris price target
• Neutral Sentiment: Primoris declared a quarterly dividend of $0.08 per share, equivalent to $0.32 annually; its reported yield is modest. Article: Primoris dividend information

Primoris Services Company Profile

Primoris Services Corporation (NYSE: PRIM) is a specialty contractor that provides construction, engineering, maintenance and fabrication services for critical infrastructure. The company serves customers in the energy, utilities and industrial markets, with work spanning power generation, power delivery, natural gas, renewable energy, petrochemical and industrial facilities.

Its services include utility and transmission construction, renewable energy development support, underground and overhead infrastructure, pipeline construction, facility maintenance, environmental services and specialty industrial construction.