Guggenheim Cuts Primoris Services (NYSE:PRIM) Price Target to $127.00

Primoris Services (NYSE:PRIM) had its price objective cut by equities research analysts at Guggenheim from $162.00 to $127.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 51.02% from the company’s current price.

A number of other research firms have also recently commented on PRIM. Zacks Research cut shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. UBS Group cut their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Primoris Services in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and a consensus price target of $135.13.

Primoris Services Stock Up 0.8%

Primoris Services stock traded up $0.69 during mid-day trading on Thursday, reaching $84.09. The stock had a trading volume of 52,169 shares, compared to its average volume of 1,449,417. Primoris Services has a one year low of $65.00 and a one year high of $205.50. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 32.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50-day moving average price of $96.62 and a two-hundred day moving average price of $129.11.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. Primoris Services had a net margin of 1.92% and a return on equity of 9.87%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. On average, analysts expect that Primoris Services will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after acquiring an additional 194 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock valued at $28,337,000 after buying an additional 33,934 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Primoris Services in the 1st quarter worth $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Primoris Services by 25.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after acquiring an additional 33,818 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Primoris Services during the 2nd quarter valued at about $274,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services News Summary

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

• Positive Sentiment: Record backlog and maintained outlook: Primoris reported a record backlog of approximately $13.9 billion, including $8.2 billion of master service agreement backlog. Management maintained its 2026 adjusted earnings outlook of $1.30 to $1.85 per share, providing some support for the longer-term growth case. Primoris Reports Q2 Loss as Revenue Falls
• Positive Sentiment: Quarterly earnings exceeded the loss estimate: Primoris reported a second-quarter loss of $0.27 per share, better than the consensus estimate for a $0.35 loss. Cantor Fitzgerald reaffirmed its “neutral” rating but assigned a $100 price target, implying potential upside from recent trading levels. Primoris Services Quarterly Earnings
• Neutral Sentiment: Dividend maintained: The board declared a quarterly dividend of $0.08 per share, payable October 15 to shareholders of record September 30. The modest payout offers limited direct income support but signals continued shareholder distributions.
• Negative Sentiment: Revenue missed expectations and fell sharply year over year: Second-quarter revenue was approximately $1.69 billion, below the $1.73 billion analyst estimate and down 10.7% from the prior-year period. Energy revenue declined 19.2% to $999.9 million, while utilities revenue increased 2.8% to $712.6 million. The company swung from $1.68 in earnings per share a year earlier to a quarterly loss, with renewable-project margin pressure weighing on results. Primoris Reports Q2 Loss and Revenue Miss
• Negative Sentiment: Securities class-action litigation adds uncertainty: Multiple law firms publicized a previously filed lawsuit against Primoris and certain current and former executives. The allegations include misleading investors about project-management capabilities and understating costs and risks tied to fixed-price renewable-energy projects, including six solar projects. Investors who purchased shares between August 5, 2025, and June 22, 2026, have until September 21, 2026, to seek lead-plaintiff status. The allegations have not been proven, but the litigation creates potential legal, financial, and reputational risks. Primoris Securities Fraud Class Action Lawsuit

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. 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.