UBS Group Lowers Perimeter Solutions (NYSE:PRM) Price Target to $26.00

Perimeter Solutions (NYSE:PRM) had its target price decreased by research analysts at UBS Group from $31.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 6.82% from the stock’s previous close.

Several other equities research analysts also recently commented on PRM. Morgan Stanley set a $35.00 price objective on Perimeter Solutions in a report on Monday, December 15th. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.50.

Perimeter Solutions Price Performance

Shares of NYSE PRM opened at $24.34 on Wednesday. The firm has a market cap of $3.64 billion, a P/E ratio of -17.14 and a beta of 1.98. Perimeter Solutions has a twelve month low of $8.76 and a twelve month high of $29.88. The company has a quick ratio of 1.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $26.97 and a 200 day moving average of $24.98.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, February 26th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Perimeter Solutions had a positive return on equity of 17.82% and a negative net margin of 31.61%.The business had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. As a group, research analysts expect that Perimeter Solutions will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In related news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRM. Jones Financial Companies Lllp purchased a new stake in shares of Perimeter Solutions in the 3rd quarter worth $27,000. Arax Advisory Partners grew its holdings in Perimeter Solutions by 122.8% during the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Perimeter Solutions in the second quarter worth about $42,000. Finally, Comerica Bank raised its stake in shares of Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock worth $43,000 after buying an additional 1,324 shares during the period. Hedge funds and other 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.