In a report released today, Brent Thielman from D.A. Davidson maintained a Buy rating on Primoris Services (PRIM – Research Report), with a price target of $34.00. The company’s shares closed yesterday at $29.08.
Thielman covers the Industrials sector, focusing on stocks such as Knife River Corporation, Apogee, and Dycom. According to TipRanks, Thielman has an average return of 14.7% and a 62.45% success rate on recommended stocks.
Currently, the analyst consensus on Primoris Services is a Moderate Buy with an average price target of $29.67.
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Based on Primoris Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.26 billion and a net profit of $1.31 million. In comparison, last year the company earned a revenue of $784.38 million and had a GAAP net loss of $1.67 million
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRIM in relation to earlier this year.
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Primoris Services Corp. is a holding company, which engages in the provision of construction, fabrication, maintenance, replacement, and engineering services. It operates through the following segments: Power, Pipeline, Utilities, Transmission, and Civil. The Power segment comprises full engineering, procurement, and construction project delivery; turnkey construction; retrofits; upgrades; repairs; outages; and maintenance petroleum, petrochemical, water, and other industries. The Pipeline segment includes pipeline construction and maintenance, facility work, compressor stations, pump stations, metering facilities, and other pipeline related services for petroleum and petrochemical industries. The Utilities segment involves in the utility line installation and maintenance, gas and electric distribution, streetlight construction, substation work, and fiber optic cable installation. The Transmission segment specializes in electric and gas transmission and distribution, including comprehensive engineering, procurement, maintenance and construction, repair, and restoration of utility infrastructure. The Civil segment consists of highway and bridge construction, airport runway and taxiway construction, demolition, heavy earthwork, soil stabilization, mass excavation, and drainage projects. The company was founded by Brian Patt in 2004 and is headquartered in Dallas, TX.
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