Perimeter Solutions (NYSE:PRM) Stock Price Up 10.7% After Analyst Upgrade

Perimeter Solutions, SA (NYSE:PRM) traded up 10.7% during trading on Tuesday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $30.00 price target on the stock, up from their previous price target of $26.00. Perimeter Solutions traded as high as $23.95 and last traded at $23.56. 222,496 shares changed hands during trading, a decline of 77% from the average session volume of 981,037 shares. The stock had previously closed at $21.28.

PRM has been the subject of a number of other research reports. Zacks Research lowered shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research report on Monday, December 15th. Finally, Weiss Ratings lowered shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.50.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 100,000 shares of Perimeter Solutions stock in a transaction 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 sale, the director owned 8,635,656 shares in the company, valued at $204,060,551.28. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 450,000 shares of company stock worth $10,722,750 over the last ninety days. 10.00% of the stock is owned by company insiders.

Institutional Trading of Perimeter Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in Perimeter Solutions by 0.5% in the third quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock valued at $246,577,000 after buying an additional 57,244 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Perimeter Solutions by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock valued at $235,951,000 after acquiring an additional 156,788 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Perimeter Solutions by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock valued at $115,188,000 after acquiring an additional 221,290 shares during the period. Janus Henderson Group PLC raised its stake in shares of Perimeter Solutions by 54.9% in the 4th quarter. Janus Henderson Group PLC now owns 3,691,773 shares of the company’s stock valued at $101,634,000 after acquiring an additional 1,308,602 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Perimeter Solutions by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock worth $94,218,000 after acquiring an additional 122,435 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Stock Performance

The company has a current ratio of 3.22, a quick ratio of 2.42 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -17.13 and a beta of 1.98. The firm’s fifty day moving average price is $24.82 and its 200 day moving average price is $25.17.

Perimeter Solutions (NYSE:PRM) last posted its 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 firm had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Perimeter Solutions had a negative net margin of 31.61% and a positive return on equity of 17.82%. Analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

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.