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Is Primoris Services (PRIM) Stock Outpacing Its Construction Peers This Year?

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  • PRIM

Investors focused on the Construction space have likely heard of Primoris Services (PRIM), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.

Primoris Services is a member of the Construction sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PRIM is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for PRIM's full-year earnings has moved 20.59% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, PRIM has moved about 19.99% on a year-to-date basis. Meanwhile, stocks in the Construction group have gained about 15.74% on average. This means that Primoris Services is performing better than its sector in terms of year-to-date returns.

Looking more specifically, PRIM belongs to the Building Products - Heavy Construction industry, a group that includes 12 individual stocks and currently sits at #227 in the Zacks Industry Rank. Stocks in this group have gained about 28.95% so far this year, so PRIM is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Construction stocks should continue to pay close attention to PRIM as it looks to continue its solid performance.


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