Perimeter Solutions (NYSE:PRM) Upgraded at Zacks Research

Zacks Research upgraded shares of Perimeter Solutions (NYSE:PRM) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Morgan Stanley set a $35.00 target price on Perimeter Solutions in a research report on Monday, December 15th. Finally, UBS Group raised Perimeter Solutions from a “neutral” rating to a “buy” rating and increased their price target for the company from $26.00 to $30.00 in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Perimeter Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Perimeter Solutions Price Performance

PRM stock opened at $27.72 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.42 and a current ratio of 3.22. The company’s fifty day moving average price is $24.52 and its 200-day moving average price is $25.44. Perimeter Solutions has a one year low of $9.56 and a one year high of $29.88. The company has a market capitalization of $4.14 billion, a PE ratio of -19.52 and a beta of 1.90.

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

Insider Buying and Selling

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction on Monday, March 9th. The shares were sold at an average price of $23.37, for a total value of $2,921,250.00. Following the completion of the transaction, the director directly owned 8,735,656 shares of the company’s stock, valued at $204,152,280.72. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 450,000 shares of company stock worth $10,722,750 in the last three months. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arax Advisory Partners increased its stake in Perimeter Solutions by 122.8% during the fourth 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 stake 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 valued at $31,000 after purchasing an additional 389 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Perimeter Solutions in the 3rd quarter valued at approximately $27,000. Brown Lisle Cummings Inc. purchased a new position in shares of Perimeter Solutions in the 3rd quarter worth approximately $45,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Perimeter Solutions by 1,450.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock worth $47,000 after purchasing an additional 1,972 shares during the period. 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.