Primoris Services Corp (NYSE: PRIM)’s stock price has increased by 2.83 compared to its previous closing price of 52.60. However, the company has seen a 4.36% increase in its stock price over the last five trading sessions. zacks.com reported 2024-07-17 that Primoris (PRIM) wins $1.2 billion in solar and gas turbine projects, boosting its growth in solar and natural gas sectors.
Is It Worth Investing in Primoris Services Corp (NYSE: PRIM) Right Now?
The price-to-earnings ratio for Primoris Services Corp (NYSE: PRIM) is above average at 20.45x. The 36-month beta value for PRIM is also noteworthy at 1.09. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 6 rating it as “hold,” and 0 rating it as “sell.”
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The public float for PRIM is 53.00M, and at present, short sellers hold a 2.76% of that float. The average trading volume of PRIM on July 19, 2024 was 637.91K shares.
PRIM’s Market Performance
PRIM’s stock has seen a 4.36% increase for the week, with a 0.33% rise in the past month and a 25.32% gain in the past quarter. The volatility ratio for the week is 3.33%, and the volatility levels for the past 30 days are at 3.43% for Primoris Services Corp The simple moving average for the last 20 days is 6.18% for PRIM stock, with a simple moving average of 35.81% 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 4.60% 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 -4.47% of loss for the given period.
Volatility was left at 3.43%, however, over the last 30 days, the volatility rate increased by 3.33%, as shares sank -2.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.16% upper at present.
During the last 5 trading sessions, PRIM rose by +4.36%, which changed the moving average for the period of 200-days by +65.26% in comparison to the 20-day moving average, which settled at $50.89. In addition, Primoris Services Corp saw 62.87% 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 King David Lee, who sale 2,500 shares at the price of $52.86 back on Jun 14 ’24. After this action, King David Lee now owns 27,517 shares of Primoris Services Corp, valued at $132,150 using the latest closing price.
MASHINSKI CARLA S, the Director of Primoris Services Corp, sale 3,883 shares at $53.92 during a trade that took place back on Jun 12 ’24, which means that MASHINSKI CARLA S is holding 20,454 shares at $209,371 based on the most recent closing price.
Stock Fundamentals for PRIM
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.11 for the gross margin
The net margin for Primoris Services Corp stands at 0.02. The total capital return value is set at 0.11. Equity return is now at value 12.19, with 3.85 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 0.21. The debt to equity ratio resting at 1.07. The interest coverage ratio of the stock is 3.58.
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 0.69. The receivables turnover for the company is 3.49for trailing twelve months and the total asset turnover is 1.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.38.
Conclusion
In summary, Primoris Services Corp (PRIM) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
