Perimeter Solutions (NYSE:PRM) Upgraded at UBS Group

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $30.00 target price on the stock, up from their prior target price of $26.00.

A number of other research analysts have also weighed in on the stock. Morgan Stanley set a $35.00 target price on shares of Perimeter Solutions in a report on Monday, December 15th. Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, March 2nd. Finally, Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

Perimeter Solutions Price Performance

NYSE:PRM opened at $25.63 on Tuesday. The business’s 50-day moving average is $24.71 and its 200 day moving average is $25.17. Perimeter Solutions has a 12 month low of $8.76 and a 12 month high of $29.88. The company has a market capitalization of $3.83 billion, a P/E ratio of -18.05 and a beta of 1.90. The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $102.75 million during the quarter, compared to analysts’ expectations of $94.05 million. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%. On average, equities research analysts forecast that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William N. Thorndike, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $23.63, for a total value of $2,363,000.00. Following the completion of the sale, the director directly owned 8,635,656 shares of the company’s stock, valued at $204,060,551.28. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 450,000 shares of company stock valued at $10,722,750. 10.00% of the stock is owned by company insiders.

Institutional Trading of Perimeter Solutions

A number of institutional investors have recently bought and sold shares of PRM. Jones Financial Companies Lllp bought a new position in Perimeter Solutions during the third quarter valued at $27,000. Arax Advisory Partners lifted its holdings in shares of Perimeter Solutions by 122.8% in the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Perimeter Solutions by 51.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Perimeter Solutions during the 2nd quarter worth about $42,000. Finally, Comerica Bank boosted its stake in shares of Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after purchasing an additional 1,324 shares during the period. 89.93% of the stock is currently owned by institutional investors.

About Perimeter Solutions

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.