The price-to-earnings ratio for Primoris Services Corp (NYSE: PRIM) is above average at 20.54x, Company’s 36-month beta value is 1.10.Analysts have differing opinions on the stock, with 1 analysts rating it as a “buy,” 1 as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for PRIM is 52.75M, and currently, short sellers hold a 2.09% ratio of that floaft. The average trading volume of PRIM on May 08, 2024 was 512.54K shares.
PRIM) stock’s latest price update
Primoris Services Corp (NYSE: PRIM) has seen a decline in its stock price by -0.27 in relation to its previous close of 47.80. However, the company has experienced a 2.30% gain in its stock price over the last five trading sessions. Business Wire reported 2024-04-18 that DALLAS–(BUSINESS WIRE)–Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced it will report first quarter 2024 financial results on Wednesday, May 8, 2024, after market close. The Company’s press release will be available on the Primoris website at www.prim.com. In conjunction with the press release, management will host a conference call and webcast on Thursday, May 9, 2024 at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the Compan.
PRIM’s Market Performance
PRIM’s stock has risen by 2.30% in the past week, with a monthly rise of 2.27% and a quarterly rise of 33.16%. The volatility ratio for the week is 2.88% while the volatility levels for the last 30 days are 3.02% for Primoris Services Corp The simple moving average for the last 20 days is 4.70% for PRIM stock, with a simple moving average of 35.01% for the last 200 days.
Analysts’ Opinion of PRIM
Many brokerage firms have already submitted their reports for PRIM stocks, with Goldman repeating the rating for PRIM by listing it as a “Neutral.” The predicted price for PRIM in the upcoming period, according to Goldman is $27 based on the research report published on April 03, 2023 of the previous year 2023.
Goldman, on the other hand, stated in their research note that they expect to see PRIM reach a price target of $24, previously predicting the price at $27. The rating they have provided for PRIM stocks is “Sell” according to the report published on November 11th, 2021.
Morgan Stanley gave a rating of “Overweight” to PRIM, setting the target price at $37 in the report published on July 16th of the previous year.
PRIM Trading at 10.89% from the 50-Day Moving Average
After a stumble in the market that brought PRIM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.24% of loss for the given period.
Volatility was left at 3.02%, however, over the last 30 days, the volatility rate increased by 2.88%, as shares surge +3.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.59% upper at present.
During the last 5 trading sessions, PRIM rose by +2.30%, which changed the moving average for the period of 200-days by +56.96% in comparison to the 20-day moving average, which settled at $45.62. In addition, Primoris Services Corp saw 43.54% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRIM starting from Schauerman John P., who sale 20,000 shares at the price of $41.31 back on Mar 21 ’24. After this action, Schauerman John P. now owns 217,281 shares of Primoris Services Corp, valued at $826,144 using the latest closing price.
Schauerman John P., the Director of Primoris Services Corp, sale 20,000 shares at $40.61 during a trade that took place back on Mar 15 ’24, which means that Schauerman John P. is holding 237,281 shares at $812,240 based on the most recent closing price.
Stock Fundamentals for PRIM
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.1 for the gross margin
The net margin for Primoris Services Corp stands at 0.02. The total capital return value is set at 0.1. Equity return is now at value 10.76, with 3.42 for asset returns.
Based on Primoris Services Corp (PRIM), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 1.07. The interest coverage ratio of the stock is 3.24.
Currently, EBITDA for the company is 367.4 million with net debt to EBITDA at 3.0. When we switch over and look at the enterprise to sales, we see a ratio of 0.64. The receivables turnover for the company is 3.73for trailing twelve months and the total asset turnover is 1.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
Conclusion
In a nutshell, Primoris Services Corp (PRIM) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
