Zacks Investment Research downgraded Primoris Services Corp (NASDAQ:PRIM) to Hold in a report released today.
- Updated: October 14, 2016
Zacks Investment Research has downgraded Primoris Services Corp (NASDAQ:PRIM) to Hold in a report released on 10/15/2016.
Previously on 10/12/2016, Zacks Investment Research reported about Primoris Services Corp (NASDAQ:PRIM) raised the target price from $0.00 to $22.00. At the time, this indicated a possible upside of 0.12%.
Yesterday Primoris Services Corp (NASDAQ:PRIM) traded -0.41% lower at $19.57. The company’s 50-day moving average is $19.86 and its 200-day moving average is $20.33. The last stock close price is down -4.13% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 131,471 shares of the stock were exchanged, down from an average trading volume of 289,889
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Primoris Services Corp has a 52 week low of $16.13 and a 52 week high of $25.25 with a P/E ratio of 25.68 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 6 firms have reported on the stock. The consensus target price is $25.08 with 2 firms rating the stock a strong buy, 2 firms rating the stock a buy, 3 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Primoris Services Corp (NASDAQ:PRIM)
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment. The West segment includes underground and industrial operations, and construction services performed by ARB, Inc., ARB Structures, Inc., Rockford Corporation, Q3C and Vadnais. The East segment includes the JCG Heavy Civil division, the JCG Infrastructure and Maintenance division, BW Primoris and Cardinal Contractors, Inc. construction business. The Energy segment includes operations of the Primoris Energy Services (PES) pipeline and gas facility construction and maintenance operations, the JCG Industrial division, the Surber and Ram-Fab operations, and the Primoris Aevenia, Inc. (Aevenia) operations.
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