Piper Sandler Initiates Coverage of Primoris Services at Neutral
Fintel reports that on September 9, 2026, Piper Sandler initiated coverage of Primoris Services (NYSE:PRIM) with a Neutral recommendation.
Prior to this rating action, on September 8, 2026, the company's stock closed at $75.45. This pre-action close of $75.45 represents a one-week price change of +4.43% from the baseline close of $72.25 on September 1, 2026. Over a longer timeframe, the stock experienced a one-month price change of -8.69% from its baseline close of $82.63 on August 7, 2026.
Separately, the broader analyst consensus shows a different outlook. As of August 28, 2026, the current consensus target mean for the stock was $122.55, with a median target of $122.40. This mean target implies a change of +62.42% from the stock's recent levels. This current consensus target mean represents a revision of -6.30% from the prior consensus target mean of $130.78 recorded on August 4, 2026. In terms of overall recommendations, the current recommendation period as of September 1, 2026, shows a total of 22 recommendations, consisting of 7 strong buy, 10 buy, 5 hold, 0 sell, and 0 strong sell ratings. This breakdown results in a positive recommendation percentage of 77.3%, a hold percentage of 22.7%, and a negative percentage of 0.0%, which remains unchanged from the prior recommendation period on August 1, 2026.
Other recent analyst activities include actions on August 10, 2026, when UBS maintained its Buy rating and Cantor Fitzgerald maintained its Neutral rating on the stock. These actions followed the company's second-quarter earnings release. According to the company's Form EX-99 filing dated August 6, 2026, titled "Primoris Services Corporation Reports Second Quarter 2026 Results," Primoris reported a net loss of $24.2 million, or $0.45 per diluted share, for the second quarter ended June 30, 2026. The filing also noted an adjusted net loss of $14.6 million, or $0.27 per diluted share, and revenue of $1,688.2 million, which was down $202.5 million, or 10.7%, compared to the second quarter of 2025. In the broader financial data, the latest earnings report on August 4, 2026, listed an actual EPS of -0.27 compared to an estimated EPS of -0.2557, with actual revenue recorded at $1,688,200,000,000,000.00 against an estimate of $1,773,530,752,000,000.00.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 9, 2026 | Piper Sandler | Neutral | initiated coverage | |
| August 10, 2026 | UBS | Buy | Buy | maintained |
| August 10, 2026 | Cantor Fitzgerald | Neutral | Neutral | maintained |
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.