Primoris Services Corporation (NASDAQ: PRIM) is -5.88% lower on its value in year-to-date trading and has touched a low of $20.34 and a high of $30.84 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PRIM stock was last observed hovering at around $22.17 in the last trading session, with the day’s gains setting it 0.4% off its average median price target of $33.00 for the next 12 months. It is also 37.31% off the consensus price target high of $36.00 offered by 8 analysts, but current levels are -7.48% lower than the price target low of $21.00 for the same period.
Currently trading at $22.57, the stock is 3.91% and -1.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.17 million and changing 1.80% at the moment leaves the stock -8.79% off its SMA200. PRIM registered -20.67% loss for a year compared to 6-month loss of -10.29%.
The stock witnessed a -6.54% gain in the last 1 month and extending the period to 3 months gives it a -4.00%, and is 2.50% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.57% over the week and 3.37% over the month.
Primoris Services Corporation (PRIM) has around 1925 employees, a market worth around $1.20B and $3.46B in sales. Current P/E ratio is 11.33 and Fwd P/E is 8.68. Profit margin for the company is 3.10%. Distance from 52-week low is 10.96% and -26.82% from its 52-week high. The company has generated returns on investments over the last 12 months (8.10%).
Primoris Services Corporation (PRIM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Primoris Services Corporation (PRIM) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.10, where 1 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Primoris Services Corporation is expected to release its quarterly report on 11/07/2022.The EPS is expected to grow by 0.80% this year.
Primoris Services Corporation (PRIM) Top Institutional Holders
The shares outstanding are 53.24M, and float is at 52.53M with Short Float at 2.95%.
Primoris Services Corporation (PRIM) Insider Activity
A total of 38 insider transactions have happened at Primoris Services Corporation (PRIM) in the last six months, with sales accounting for 12 and purchases happening 26 times. The most recent transaction is an insider sale by King David Lee,the company’sDirector. SEC filings show that King David Lee sold 20,000 shares of the company’s common stock on Mar 15 at a price of $26.51 per share for a total of $0.53 million. Following the sale, the insider now owns 36785.0 shares.
Primoris Services Corporation disclosed in a document filed with the SEC on Aug 26 that MCCALLISTER TERRY D (Director) bought a total of 10,000 shares of the company’s common stock. The trade occurred on Aug 26 and was made at $24.61 per share for $0.25 million. Following the transaction, the insider now directly holds 10000.0 shares of the PRIM stock.
Primoris Services Corporation (PRIM): Who are the competitors?
The company’s main competitors (and peers) include Tutor Perini Corporation (TPC) that is trading -35.10% down over the past 12 months and MYR Group Inc. (MYRG) that is 0.52% higher over the same period. Quanta Services Inc. (PWR) is 52.08% up on the 1-year trading charts.