Perimeter Solutions (NYSE:PRM) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Perimeter Solutions (NYSE:PRMGet Free Report) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $50.00 price target on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 47.82% from the stock’s previous close.

Several other research analysts also recently commented on the company. Wall Street Zen raised Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Morgan Stanley raised their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. UBS Group boosted their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Perimeter Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $43.00.

Get Our Latest Analysis on Perimeter Solutions

Perimeter Solutions Stock Performance

Shares of NYSE:PRM opened at $33.83 on Thursday. The company’s 50 day simple moving average is $33.11 and its 200 day simple moving average is $28.63. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of -25.24 and a beta of 1.90. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.09 and a quick ratio of 1.61. Perimeter Solutions has a 1 year low of $15.36 and a 1 year high of $38.17.

Perimeter Solutions (NYSE:PRMGet Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Perimeter Solutions had a positive return on equity of 18.29% and a negative net margin of 26.93%.The firm had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. As a group, research analysts predict that Perimeter Solutions will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 117,511 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the transaction, the chief executive officer directly owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. This represents a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Emery sold 53,537 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the transaction, the insider directly owned 53,537 shares of the company’s stock, valued at $1,790,812.65. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,385,514 shares of company stock valued at $217,464,393 in the last quarter. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently modified their holdings of PRM. Principal Financial Group Inc. increased its holdings in Perimeter Solutions by 15.0% in the first quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock valued at $305,572,000 after purchasing an additional 1,634,158 shares during the period. Vanguard Group Inc. lifted its holdings in Perimeter Solutions by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,570,699 shares of the company’s stock worth $235,951,000 after buying an additional 156,788 shares during the period. Dimensional Fund Advisors LP grew its position 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 buying an additional 221,290 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Perimeter Solutions by 8.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock valued at $97,863,000 after buying an additional 315,763 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Perimeter Solutions by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock valued at $94,218,000 after buying an additional 122,435 shares during the period. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Perimeter Solutions (NYSE:PRM)

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