Primoris Services Corp (NYSE: PRIM)’s stock price has surge by 14.78relation to previous closing price of 64.34. Nevertheless, the company has seen a 16.69% surge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-05 that Primoris Services Corporation (NYSE:PRIM ) Q3 2024 Results Conference Call November 5, 2024 10:00 AM ET Company Participants Blake Holcomb – Vice President, Investor Relations Tom McCormick – President and Chief Executive Officer Ken Dodgen – Chief Financial Officer Conference Call Participants Pete Lukas – CJS Securities Adam Bubes – Goldman Sachs Drew Chamberlain – JPMorgan Kevin Gainey – Thompson Davis Brent Thielman – D.A. Davidson Judah Aronovitz – UBS Alex Hantman – Sidoti Operator Ladies and gentlemen, good day, and thank you for standing by.
Is It Worth Investing in Primoris Services Corp (NYSE: PRIM) Right Now?
Primoris Services Corp (NYSE: PRIM) has a price-to-earnings ratio of 24.48x that is above its average ratio. Additionally, the 36-month beta value for PRIM is 1.06. 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.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for PRIM is 53.08M and currently, short sellers hold a 2.31% ratio of that float. The average trading volume of PRIM on November 06, 2024 was 541.03K shares.
PRIM’s Market Performance
PRIM’s stock has seen a 16.69% increase for the week, with a 21.88% rise in the past month and a 46.67% gain in the past quarter. The volatility ratio for the week is 5.09%, and the volatility levels for the past 30 days are at 3.05% for Primoris Services Corp The simple moving average for the past 20 days is 17.53% for PRIM’s stock, with a 48.63% simple moving average for the past 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 26.15% 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 able to rebound, for now settling with 14.18% of gains for the given period.
Volatility was left at 3.05%, however, over the last 30 days, the volatility rate increased by 5.09%, as shares surge +21.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.52% upper at present.
During the last 5 trading sessions, PRIM rose by +16.69%, which changed the moving average for the period of 200-days by +119.40% in comparison to the 20-day moving average, which settled at $62.84. In addition, Primoris Services Corp saw 122.37% 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 0.04. The total capital return value is set at 0.12. Equity return is now at value 12.88, with 4.09 for asset returns.
Based on Primoris Services Corp (PRIM), the company’s capital structure generated 0.48 points at debt to capital in total, while cash flow to debt ratio is standing at 0.34. The debt to equity ratio resting at 0.91. The interest coverage ratio of the stock is -9.75.
Currently, EBITDA for the company is 367.4 million with net debt to EBITDA at 3.87. When we switch over and look at the enterprise to sales, we see a ratio of 0.79. The receivables turnover for the company is 6.53for trailing twelve months and the total asset turnover is 1.45. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.38.
Conclusion
In conclusion, Primoris Services Corp (PRIM) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
