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Why Is Primoris (PRIM) Stock Getting Higher Today?

FEDU Stock

FEDU Stock

Primoris Services Corporation (PRIM) shares rose slightly this morning in the early trades, hitting $33.05 seeing a rise of 3.35%. Primoris stock fell by -2.06% to close the previous trading session at $31.98. Rise in the PRIM stock price has been triggered by news that it has secured a multi-million dollar civil project.

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What project has been secured?

Primoris has been providing specialty contracting services in the United States and Canada since 1960. A diversified, long-standing client base has relied on Primoris for its specialty construction services, fabrication, maintenance, and engineering services.

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Primoris announced a significant new project in Texas this morning, valued at over $35 million.

Recent Performance:

Primoris stock has fallen -19.73% over the past five sessions. However, one month’s performance lessened the loss to -4.54%. In the last three months, the PRIM stock has soared 16.72% and has risen by 155.23 percent since the beginning of this year.

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A price-to-earnings ratio of 14.79 indicates that the company trades at a premium to the industry average. Besides, its price to cash flow ratio stands at 6.76, and its price to sales ratio stands at 0.46.

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