Primoris Services (NASDAQ:PRIM) Downgraded by Zacks Investment Research to Sell

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Primoris Services stock has undergone multiple analysts rating changes in the recent past.  Primoris Services Downgraded by Zacks Investment Research on 10/21/2021. In a note to investors, the firm issued a new rating of Sell. The analysts previously had rating of Hold.

Shares of Primoris Services traded up $0.04 on Wednesday, reaching $27.20. 59577 shares of the stock traded hands, compared to its average volume of 426049. Shares of Primoris Services were trading at $27.20 on Wednesday. The firm’s 50 day moving average is $25.70 and its 200 day moving average is $30.33.Primoris Services has a 12 month low of $27.02 and a 12 month high of $41.76. While on yearly highs and lows, Primoris Services’s today has traded high as $27.40 and has touched $27.02 on the downward trend. See More Analyst Rating at: RATING

Primoris Services Earnings and What to expect: 

Primoris Services last announced its quarterly earnings data on August 3rd, 2021. The construction company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.69 by $0.01. The business earned $881.61 million during the quarter, compared to analysts’ expectations of $911.20 million. Primoris Services has generated $2.24 earnings per share over the last year ($2.35 diluted earnings per share) and currently has a price-to-earnings ratio of 11.6. Earnings for Primoris Services are expected to grow by 10.00% in the coming year, from $2.40 to $2.64 per share. Primoris Services has confirmed that its next quarterly earnings report will be published on Monday, November 8th, 2021. Primoris Services will be holding an earnings conference call on Tuesday, November 9th at 9:00 AM Eastern. Interested parties can or dial in at 416-621-4642 with passcode “4449678”.

Earnings for Primoris Services are expected to grow by 10.00% in the coming year, from $2.40 to $2.64 per share. The P/E ratio of Primoris Services is 11.56, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 15.28. The P/E ratio of Primoris Services is 11.56, which means that it is trading at a less expensive P/E ratio than the Construction sector average P/E ratio of about 19.61. Primoris Services has a P/B Ratio of 1.83. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Primoris Services (NASDAQ:PRIM) Moving Average Technical Analysis

5 day Moving Average is $26.93 And 5 day price change is $0.80 (3.01%)  with average volume for 5 day average is 224,285. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $25.87 and 20 day price change is $2.88 (11.76%) and average 20 day moving volume is 377,416. 50 day moving average is $25.70  and 50 day price change is $0.39 ( 1.45%)  and with average volume for 50 days is : 399,577. 200 day moving average is $30.33  and 200 day price change is -$3.84 (-12.31%)  and with average volume for 200 days is : 439,168.

Other owners latest trading in Primoris Services :

  • On 10/20/2021 shares held by SummerHaven Investment Management LLC were 29,073 which equates to market value of $0.71M and appx 0.40% owners of Primoris Services
  • On 10/18/2021 shares held by SG Capital Management LLC were 171,584 which equates to market value of $4.20M and appx 1.70% owners of Primoris Services
  • On 10/14/2021 shares held by Foundry Partners LLC were 388,473 which equates to market value of $9.51M and appx 0.30% owners of Primoris Services
  • In total Institutional ownership equates to Institutional Ownership Percentage: 87.41% for Primoris Services

See More Analyst Rating at: RATING