The Insider Activity Report For Primoris Services Corporation (PRIM): Who’s Buying?

Primoris Services Corporation (NASDAQ:PRIM) finished Friday with an addition of $0.31 to close at $26.87, an upside of 1.17 percent. An average of 374,640 shares of common stock have been traded in the last five days. There was a gain of $0.80 in the past week, and it reached a new high 29 times over the past 12 months. The last 20 days have seen an average of 483,655 shares traded, while the 50-day average volume stands at 436,366.

PRIM stock has increased by 3.75% in the last month. The company shares reached their 1-month lowest point of $23.56 on 09/22/21. With the stock rallying to its 52-week high on 03/15/21, shares of the company touched a low of $17.88 and a high of $41.76 in 52 weeks. It has reached a new high 15 times so far this year and lost -2.68% or -$0.74 in price. In spite of this, the price is down -35.66% from the 52-week high.


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Insider Transactions

332 days have passed since Primoris Services Corporation (PRIM) last reported insider trading activity. Schauerman John P., who is Director, most recently acquired $20,000 shares at $23.84 per share on Nov 18. In this transaction, the insider spent $476,800. Director, Schauerman John P., disposed of 50,000 shares at a price of $23.46 on Nov 16. The insider now owns more than $1,173,000 worth of shares. Prior to that, Director Tucker Thomas E. went on to Sale 8,789 shares at $22.89 each on Nov 10. An amount of $201,158 was transacted.

Valuation Metrics

Primoris Services Corporation (PRIM) has a trailing price-to-earnings (P/E) ratio of 11.45, which compares with the 23.80 for the broader industry and 29.28 for the sector. In the last five years, Primoris Services Corporation’s PE ratio has ranged between 50.60 and 6.124. The stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.40, the price-to-book (PB) ratio at 1.54, and the price-to-cash flow ratio at 10.23.

Primoris Services Corporation pays a $0.24 dividend per share annually. It offers a dividend yield of 0.89%. The company has a payout ratio of 10.10%. The company’s most recent quarterly dividend payment took place on Oct. 15 , and it was $0.06 a share, without any change from last year. Its latest increase dividend $0.0050 reported on Tuesday November 7 2017. Dividends have grown by 6.67% each year over the last three years.

Primoris Services Corporation will next go ex-dividend on 30-Dec. The next dividend payment Primoris Services Corporation will make is expected to be $0.06.

The quick ratio of Primoris Services Corporation for the three months ended June 29 was 1.40, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.63 and a total debt to equity ratio of 0.70 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 11.70% against a 5-year average of 10.8%. Primoris Services Corporation’s EBITDA margin for the year ending June 29 is 7.16%, while its operating margin for the same period stands at 5.00%. Its gross profit as reported stood at $370.21 million compared to revenue of $3.49 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Primoris Services Corporation’s return on assets was 5.30%, compared to 4.8% over the last five years. In the past year, the return on investment has been 12.00%, and the 5-year average is 8.5%. Meanwhile, the return on equity (ROE) for the past 12 months has been 14.60% and the 5-year average holds at 12.3%. For the broader industry, ROE averaged 10.11 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Primoris Services Corporation had $592.4 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $36.29 million in the quarter, while revenues of $5.85 million were grew 9.18%. The analyst consensus anticipated Primoris Services Corporation’s latest quarter earnings to come in at $0.72 per share, but it turned out to be $0.67, a -6.90% surprise. For the quarter, EBITDA amounted to $81.65 million. Shareholders own equity worth $53.73 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Primoris Services Corporation (PRIM) price momentum. RSI 9-day as of the close on 15 October was 66.93%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.96%.

As of today, PRIM’s price is $26.51 +3.07% or $0.80 from its 5-day moving average. PRIM is currently trading +2.79% higher than its 20-day SMA and -11.52% lower than its 100-day SMA. However, the stock’s current price level is -2.18% below the SMA50 and -2.33% below the SMA200.

The stochastic %K and %D were 85.66% and 86.91%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 87.34% and the average true range at 0.78, the RSI (14) stands at 60.04%. The stock has reached 0.56 on the 9-day MACD Oscillator while the 14-day reading was at 0.98.

Analyst Ratings

Morgan Stanley launched coverage on Primoris Services Corporation (NASDAQ: PRIM) in its analyst report released on July 16, 2021. The firm assigned the stock a an Overweight rating.The consensus rating for Primoris Services Corporation (PRIM) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PRIM, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.

What is PRIM’s price target for the next 12 months?

Analysts predict a range of price targets between $27.00 and $45.00, with a median target of $37.00. Taking a look at these predictions, the average price target given by analysts for Primoris Services Corporation (PRIM) stock is $36.14.

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