Primoris Services Corp (NYSE: PRIM)’s stock price has gone rise by 0.97 in comparison to its previous close of 61.73, however, the company has experienced a 3.64% increase in its stock price over the last five trading days. seekingalpha.com reported 2024-10-15 that Shrill political rhetoric supporting and opposing climate change, renewables, etc.
Is It Worth Investing in Primoris Services Corp (NYSE: PRIM) Right Now?
Primoris Services Corp (NYSE: PRIM) has a price-to-earnings ratio that is above its average at 22.00x. The stock has a 36-month beta value of 1.07. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 1 as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for PRIM is 53.08M, and at present, short sellers hold a 1.81% of that float. On October 18, 2024, the average trading volume of PRIM was 555.99K shares.
PRIM’s Market Performance
The stock of Primoris Services Corp (PRIM) has seen a 3.64% increase in the past week, with a 9.22% rise in the past month, and a 16.61% gain in the past quarter. The volatility ratio for the week is 2.46%, and the volatility levels for the past 30 days are at 2.50% for PRIM. The simple moving average for the last 20 days is 4.80% for PRIM’s stock, with a simple moving average of 30.77% for the last 200 days.
Analysts’ Opinion of PRIM
Many brokerage firms have already submitted their reports for PRIM stocks, with JP Morgan repeating the rating for PRIM by listing it as a “Overweight.” The predicted price for PRIM in the upcoming period, according to JP Morgan is $71 based on the research report published on October 07, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see PRIM reach a price target of $27, previously predicting the price at $22.50. The rating they have provided for PRIM stocks is “Neutral” according to the report published on April 03rd, 2023.
Goldman gave a rating of “Sell” to PRIM, setting the target price at $24 in the report published on November 11th of the previous year.
PRIM Trading at 11.49% 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 -0.19% of loss for the given period.
Volatility was left at 2.50%, however, over the last 30 days, the volatility rate increased by 2.46%, as shares surge +5.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.79% upper at present.
During the last 5 trading sessions, PRIM rose by +3.64%, which changed the moving average for the period of 200-days by +89.91% in comparison to the 20-day moving average, which settled at $59.47. In addition, Primoris Services Corp saw 87.68% 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 25,000 shares at the price of $59.25 back on Sep 19 ’24. After this action, Schauerman John P. now owns 137,281 shares of Primoris Services Corp, valued at $1,481,332 using the latest closing price.
SCHAUERMAN FAMILY TRUST, the Board Member of Primoris Services Corp, proposed sale 25,000 shares at $59.25 during a trade that took place back on Sep 19 ’24, which means that SCHAUERMAN FAMILY TRUST is holding shares at $1,481,334 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 0.03. The total capital return value is set at 0.11. Equity return is now at value 12.60, with 3.97 for asset returns.
Based on Primoris Services Corp (PRIM), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.26. The debt to equity ratio resting at 0.8. The interest coverage ratio of the stock is 3.77.
Currently, EBITDA for the company is 367.4 million with net debt to EBITDA at 2.84. When we switch over and look at the enterprise to sales, we see a ratio of 0.74. The receivables turnover for the company is 3.51for 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
To sum up, Primoris Services Corp (PRIM) has seen a better performance recently. Analysts have differing views on the stock, with some seeing 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.
