Morgan Stanley Issues Positive Forecast for Perimeter Solutions (NYSE:PRM) Stock Price

Perimeter Solutions (NYSE:PRM) had its price target increased by Morgan Stanley from $17.00 to $25.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also commented on the stock. UBS Group increased their price target on shares of Perimeter Solutions from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.50.

Perimeter Solutions Stock Up 8.8%

Shares of NYSE PRM opened at $21.19 on Monday. Perimeter Solutions has a 12-month low of $8.76 and a 12-month high of $21.21. The stock’s fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $12.68. The stock has a market capitalization of $3.10 billion, a PE ratio of 49.28 and a beta of 1.96. The company has a current ratio of 4.04, a quick ratio of 2.60 and a debt-to-equity ratio of 0.57.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Perimeter Solutions had a negative return on equity of 1.11% and a net margin of 13.05%.The firm had revenue of $162.64 million during the quarter, compared to analysts’ expectations of $108.91 million. As a group, analysts expect that Perimeter Solutions will post 0.71 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In related news, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was bought at an average cost of $13.98 per share, for a total transaction of $3,559,308.00. Following the purchase, the insider directly owned 21,854,600 shares of the company’s stock, valued at approximately $305,527,308. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth $38,000. EverSource Wealth Advisors LLC purchased a new position in Perimeter Solutions in the 2nd quarter worth $42,000. Cullen Frost Bankers Inc. lifted its position in Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock worth $43,000 after acquiring an additional 1,928 shares during the period. Harbor Investment Advisory LLC lifted its position in Perimeter Solutions by 25.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company’s stock worth $94,000 after acquiring an additional 1,899 shares during the period. Finally, Xponance Inc. purchased a new stake in Perimeter Solutions during the 1st quarter valued at about $101,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.