Perimeter Solutions (NYSE:PRM) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Perimeter Solutions (NYSE:PRM) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings restated a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Wednesday, October 8th. Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research report on Monday. Finally, UBS Group boosted their price target on shares of Perimeter Solutions from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Perimeter Solutions Price Performance

PRM stock opened at $28.27 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 2.22. The business has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $20.59. The company has a market capitalization of $4.18 billion, a P/E ratio of 67.31 and a beta of 1.96. Perimeter Solutions has a 52-week low of $8.76 and a 52-week high of $29.78.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The firm had revenue of $315.44 million during the quarter, compared to the consensus estimate of $238.27 million. Perimeter Solutions had a return on equity of 17.33% and a net margin of 12.26%. Research analysts expect that Perimeter Solutions will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.47, for a total value of $2,847,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in Perimeter Solutions in the 3rd quarter worth approximately $27,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Perimeter Solutions during the third quarter worth $45,000. TD Private Client Wealth LLC boosted its holdings in shares of Perimeter Solutions by 1,450.0% in the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock worth $47,000 after acquiring an additional 1,972 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Perimeter Solutions in the second quarter valued at $42,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Perimeter Solutions by 161.2% in the second quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company’s stock valued at $43,000 after purchasing an additional 1,928 shares in the last quarter. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

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.