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

Perimeter Solutions (NYSE:PRM) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports. The brokerage presently has a $30.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 41.14% from the stock’s previous close.

A number of other equities analysts have also issued reports on PRM. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research note on Monday, December 15th. Weiss Ratings lowered Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Finally, Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Perimeter Solutions has a consensus rating of “Hold” and an average target price of $32.50.

Perimeter Solutions Trading Down 0.4%

Shares of NYSE:PRM opened at $21.26 on Tuesday. The company has a 50 day moving average of $24.90 and a 200-day moving average of $25.15. 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 has a market cap of $3.18 billion, a P/E ratio of -14.97 and a beta of 1.98. Perimeter Solutions has a twelve month low of $8.76 and a twelve month high of $29.88.

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

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director William N. Thorndike, Jr. sold 125,000 shares of Perimeter Solutions stock in a transaction that occurred 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 owned 8,735,656 shares in the company, valued at approximately $204,152,280.72. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 450,000 shares of company stock valued at $10,722,750 in the last quarter. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp acquired a new stake in shares of Perimeter Solutions during the third quarter worth $27,000. Arax Advisory Partners increased its stake in Perimeter Solutions by 122.8% in 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. increased its stake in Perimeter Solutions by 51.6% in the 4th 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 in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions during the 2nd quarter worth about $42,000. Finally, Comerica Bank raised its holdings in Perimeter Solutions by 45.0% during the 1st 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. 89.93% of the stock is owned by institutional investors.

About Perimeter Solutions

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.