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Louisiana-Pacific Corporation (LPX) - free report >>
Owens Corning Inc (OC) - free report >>
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Primoris (PRIM) Arm Wins $124M Louisiana Heavy Civil Award
James Construction Group ("JCG"), a unit of the East Construction Services segment of Primoris Services Corporation (PRIM - Free Report) , has secured a new heavy civil award, valued at over $124 million. The projects were awarded by the Louisiana Department of Transportation.
Located in Lafayette and St. Martin Parishes, the contract is for the reconstruction of approximately seven miles of Interstate 10. The project involves widening of ten bridges and replacing two bridges, drainage structures, asphalt paving with associated earthwork and base course, concrete railing, lighting, signage, and pavement markings.
The project is slated to begin in second-quarter 2017 and is likely to be complete by third-quarter 2019.
Primoris Services Corporation Price
Primoris Services Corporation Price | Primoris Services Corporation Quote
JCG is part of Primoris' East Construction Services segment. The East Construction Services segment accounted for 24% of the total revenue during third-quarter 2016. The segment recorded a 33% year-over-year decline in revenues.
Moreover, shares of Primoris have underperformed the Zacks categorized Building Products - Heavy Construction industry in the past one year. The stock gained 29.8%, while the industry gained around 52.9%, over the same time frame.
Zacks Rank & Key Picks
Primoris currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Louisiana-Pacific Corporation (LPX - Free Report) , LSI Industries Inc. (LYTS - Free Report) and Owens Corning (OC - Free Report) .
Louisiana-Pacific Corporation has delivered an average positive earnings surprise of 66.28% in the last four quarters. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LSI Industries also boasts a Zacks Rank #1 and has delivered an average positive earnings surprise of 27.28% in the trailing four quarters. Owens Corning, another Zacks Rank #1 stock, has an average positive earnings surprise of 35.13% for the past four quarters.
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