Perimeter Solutions (NYSE:PRM) Upgraded to Buy at UBS Group

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat.com reports. They currently have $30.00 price objective on the stock, up from their previous price objective of $26.00.

PRM has been the subject of a number of other reports. Zacks Research downgraded Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings cut Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Finally, Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a research report on Monday, December 15th. 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, the company currently has a consensus rating of “Hold” and a consensus price target of $32.50.

Perimeter Solutions Stock Performance

Shares of PRM opened at $24.33 on Tuesday. 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 firm’s fifty day simple moving average is $24.82 and its two-hundred day simple moving average is $25.17. Perimeter Solutions has a 12 month low of $8.76 and a 12 month high of $29.88. The stock has a market capitalization of $3.64 billion, a P/E ratio of -17.13 and a beta of 1.98.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 positive return on equity of 17.82% and a negative net margin of 31.61%. As a group, analysts predict that Perimeter Solutions will post 0.71 EPS for the current year.

Insiders Place Their Bets

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 125,000 shares of the firm’s 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 transaction, the director directly owned 8,735,656 shares of the company’s stock, valued at approximately $204,152,280.72. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 450,000 shares of company stock worth $10,722,750 in the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently added to or reduced their stakes in PRM. Arax Advisory Partners increased its holdings in Perimeter Solutions by 122.8% during the 4th quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after purchasing an additional 577 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 purchasing an additional 389 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Perimeter Solutions in the third quarter valued at approximately $27,000. Brown Lisle Cummings Inc. purchased a new position in shares of Perimeter Solutions during the third quarter valued at approximately $45,000. Finally, TD Private Client Wealth LLC boosted its position in shares of Perimeter Solutions by 1,450.0% during the third quarter. TD Private Client Wealth LLC now owns 2,108 shares of the company’s stock valued at $47,000 after buying an additional 1,972 shares during 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.