Wells Fargo & Company Upgrades Primoris Services (NYSE:PRIM) to “Hold”

Primoris Services (NYSE:PRIM) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms also recently commented on PRIM. Needham & Company LLC raised shares of Primoris Services to a “moderate buy” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of Primoris Services from a “buy” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings started coverage on shares of Primoris Services in a research note on Thursday, October 23rd. They set a “buy (b)” rating on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Primoris Services Price Performance

Shares of PRIM traded up $2.57 during mid-day trading on Thursday, hitting $119.00. The stock had a trading volume of 783,913 shares, compared to its average volume of 893,594. Primoris Services has a fifty-two week low of $49.10 and a fifty-two week high of $146.16. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.85 and a beta of 1.45.

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.