Primoris Services (NYSE:PRIM) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Primoris Services (NYSE:PRIM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other analysts have also issued reports on PRIM. The Goldman Sachs Group upgraded Primoris Services to a “strong sell” rating in a research note on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Cantor Fitzgerald raised shares of Primoris Services to a “hold” rating in a report on Friday, January 23rd. Guggenheim upgraded shares of Primoris Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company raised shares of Primoris Services to an “equal weight” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Primoris Services Trading Down 1.0%

NYSE:PRIM opened at $150.47 on Friday. Primoris Services has a 12 month low of $49.10 and a 12 month high of $174.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.20. The business has a 50 day moving average of $146.06. The company has a market cap of $8.13 billion, a PE ratio of 29.91 and a beta of 1.37.

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.