Perimeter Solutions (NYSE:PRM) Stock Rating Upgraded by Zacks Research

Perimeter Solutions (NYSE:PRM) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

PRM has been the topic of several other research reports. Weiss Ratings downgraded Perimeter Solutions from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, March 2nd. Morgan Stanley set a $35.00 price objective on Perimeter Solutions in a report on Monday, December 15th. Finally, UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $30.00 in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.50.

Perimeter Solutions Price Performance

NYSE PRM opened at $27.07 on Tuesday. The stock’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $25.43. 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 company has a market cap of $4.05 billion, a PE ratio of -19.06 and a beta of 1.90. Perimeter Solutions has a 1 year low of $9.56 and a 1 year high of $29.88.

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

Insider Buying and Selling at Perimeter Solutions

In other news, Director William N. Thorndike, Jr. sold 125,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was 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 $204,152,280.72. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 450,000 shares of company stock valued at $10,722,750. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perimeter Solutions

A number of large investors have recently made changes to their positions in PRM. Comerica Bank increased its holdings in shares of Perimeter Solutions by 45.0% in the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the period. Royal Bank of Canada increased its holdings in shares of Perimeter Solutions by 100.0% in the 1st quarter. Royal Bank of Canada now owns 80,608 shares of the company’s stock valued at $812,000 after purchasing an additional 40,294 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Perimeter Solutions by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,546 shares of the company’s stock valued at $801,000 after purchasing an additional 3,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Perimeter Solutions by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,188 shares of the company’s stock valued at $3,305,000 after purchasing an additional 14,949 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Perimeter Solutions in the 2nd quarter valued at about $2,128,000. 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.