Perimeter Solutions (NYSE:PRM – Free Report) had its price target reduced by JPMorgan Chase & Co. from $50.00 to $45.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Several other equities research analysts have also commented on PRM. CJS Securities began coverage on Perimeter Solutions in a research note on Tuesday, June 9th. They set a “market outperform” rating and a $48.00 price target for the company. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Wall Street Zen cut Perimeter Solutions from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Morgan Stanley boosted their target price on Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, UBS Group increased their target price on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.75.
Check Out Our Latest Research Report on PRM
Perimeter Solutions Stock Up 4.8%
Perimeter Solutions (NYSE:PRM – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a positive return on equity of 19.15% and a negative net margin of 44.86%.The firm had revenue of $213.81 million during the quarter, compared to analysts’ expectations of $216.89 million. On average, analysts anticipate that Perimeter Solutions will post 1.58 EPS for the current year.
Insider Buying and Selling at Perimeter Solutions
In other Perimeter Solutions news, insider Jeffrey Emery sold 53,537 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the transaction, the insider owned 53,537 shares in the company, valued at $1,790,812.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Sable sold 49,540 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total value of $1,639,278.60. Following the transaction, the chief financial officer owned 49,540 shares in the company, valued at approximately $1,639,278.60. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,385,514 shares of company stock valued at $217,464,393 in the last quarter. Company insiders own 13.10% of the company’s stock.
Institutional Investors Weigh In On Perimeter Solutions
Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Perimeter Solutions by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,513,159 shares of the company’s stock worth $305,572,000 after acquiring an additional 1,634,158 shares in the last quarter. Vanguard Group Inc. grew its position in Perimeter Solutions by 1.9% in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Perimeter Solutions by 4.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock valued at $115,188,000 after purchasing an additional 221,290 shares during the period. Janus Henderson Group PLC raised its stake in shares of Perimeter Solutions by 8.6% during the first quarter. Janus Henderson Group PLC now owns 4,007,536 shares of the company’s stock valued at $97,863,000 after purchasing an additional 315,763 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Perimeter Solutions by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,421,820 shares of the company’s stock worth $94,218,000 after purchasing an additional 122,435 shares in the last quarter. Institutional investors and hedge funds own 89.93% of the company’s stock.
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.
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