Originally published on Best Stocks Category: best stocks to buy now On Friday, StockNews.com changed their recommendation for Primoris Services (NASDAQ: PRIM) from “hold” to “buy.” The previous rating was “hold,” so what happened?Several additional equity research analysts have made publications concerning the company regarding PRIM. Morgan Stanley downgraded Primoris Services from an “overweight” rating to a “neutral” rating in a research report published on Friday, September 9, and lowered their price target from $33.00 to $30.00. The report was released on Friday, September 9. Primoris Services was moved from a “sell” rating to a “neutral” rating by Goldman Sachs Group in a research note published on Wednesday. Additionally, Goldman Sachs Group increased its price objective on the stock from $18.00 to $20.00. Finally, DA Davidson lowered their target price on Primoris Services shares to $27.00 in a research report published on Monday, August 15. This was the company’s final action, but by no means its the least important one. Three research experts have recommended that investors purchase the stock, while one analyst has suggested that they dispose of their holdings in the stock. According to Bloomberg, the current consensus rating for Primoris Services is “Moderate Buy,” and the current consensus price objective for the company is $25.67. In addition, the current consensus rating for the company is “Overweight.”On Friday, the price of a share of Primoris Services reached $22.34 after gaining $0.10 in value throughout the trading session that occurred during lunchtime. The number of shares of the company’s stock that changed hands was significantly lower when compared to the average volume of 385,946 shares, which were traded throughout the day. There was a transfer of 163,972 shares. Over the past year and a half, the cost of Primoris Services has fluctuated between $15.90 and $27.94 at various points. The ratio of the current ratio to the quick ratio is 1.48; the ratio of the quick ratio to the current ratio is 1.48, and the ratio of the current ratio to the quick ratio is 1.48. The ratio of debt to equity is 0.62. The stock has traded at an average price of $18.89 per share over the past 50 trading days, while its price has averaged $21.35 per share over the past 200 trading days. Both the price-to-earnings ratio of the company, which is 9.97, and its beta value, which is 1.22, are very high. At the moment, the total value of the company, as measured by its market capitalization, is $1.19 billion.On Monday, August 8, Primoris Services released its most recent earnings report, which can be found under the ticker symbol “NASDAQ: PRIM.” Primoris Services is a publicly traded company. The construction company reported earnings per share for the quarter of $0.48, which was significantly lower than the $0.59 anticipated on average by a difference of $0.11. The revenue for the company’s most recent fiscal quarter was $1.02 billion, which is significantly higher than the figure of $938.51 million forecasted for the period. Primoris Services achieved a return on equity of 12.07%, and the company’s net margin came in at 3.04%. According to projections made by stock analysts, Primoris Services is expected to generate earnings of 2.5 cents per share for the current fiscal year.The PRIM holdings of various hedge funds and institutional investors have been subject to significant positional shifts over the past few months. Benjamin F. Edwards & Company, Inc. shelled out approximately 63,000 dollars during the third quarter to expand its product offering by acquiring Primoris Services. Around 154,000 dollars were transferred to Amalgamated Bank during the first three months of the year so that the bank could make a new investment in Primoris Services. Aigen Investment Management LP made new investment in Primoris Services during the third quarter. The total value of this investment was close to $186,000. Finally, MQS Management LLC invested approximately 191,000 dollars during the third quarter to increase the company’s ownership stake in Primoris Services.Last but not least, Tower Research Capital LLC (TRC) made a staggering increase in the percentage of ownership it holds in Primoris Services during the third quarter. Tower Research Capital LLC TRC now owns 11,174 additional shares in the construction industry, bringing the total number of shares owned by Tower Research Capital LLC TRC to 13,139, with a value of $213,000. Tower Research Capital LLC (TRC) also owns a total of 13,139 shares in the technology industry, with a value of $213,000. At present, institutional investors own 91.48 percent of the equity in the company.Primoris Services Corp., a holding company, provides construction, engineering, and fabrication services. Utilities, pipelines, and energy and renewables comprise the company’s three separate business divisions, each in its own right. The utility department provides a wide range of services to its customers, including telecommunications, as well as the installation and maintenance of both new and outdated utility distribution and transmission infrastructure for natural gas and electricity. Other services provided by the Utilities Department include the maintenance of both new and outdated utility distribution and transmission infrastructure.