Perimeter Solutions (NYSE:PRM) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Perimeter Solutions from “strong sell” to “hold.” Analysts’ overall consensus remains “Moderate Buy,” with a consensus price target of $41.50.
• PRM shares fell to $26.49, below their 50-day and 200-day moving averages. The stock has traded between $19.70 and $38.17 over the past year.
• Perimeter Solutions missed quarterly expectations, reporting $0.35 in EPS versus the $0.43 consensus and revenue of $213.81 million versus $216.89 million expected. Institutional investors own approximately 89.93% of the company.

Perimeter Solutions (NYSE:PRM - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Thursday, Zacks reports.

Several other research analysts also recently weighed in on PRM. JPMorgan Chase & Co. reduced their price target on shares of Perimeter Solutions from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday. Wall Street Zen lowered Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings lowered Perimeter Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, September 28th. Finally, UBS Group dropped their target price on Perimeter Solutions from $42.00 to $38.00 and set a "buy" rating for the company in a report on Tuesday, September 29th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Perimeter Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $41.50.

Perimeter Solutions Price Performance

Shares of Perimeter Solutions stock traded down $0.81 on Thursday, reaching $26.49. The company's stock had a trading volume of 1,515,586 shares, compared to its average volume of 1,365,155. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $4.34 billion, a P/E ratio of -11.88 and a beta of 1.92. The stock has a 50-day moving average price of $30.34 and a 200-day moving average price of $31.39. Perimeter Solutions has a 52-week low of $19.70 and a 52-week high of $38.17.

Perimeter Solutions (NYSE:PRM - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The business had revenue of $213.81 million for the quarter, compared to analysts' expectations of $216.89 million. Analysts expect that Perimeter Solutions will post 1.57 EPS for the current year.

Institutional Trading of Perimeter Solutions

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in Perimeter Solutions during the second quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in Perimeter Solutions by 20.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company's stock valued at $56,000 after purchasing an additional 383 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Perimeter Solutions by 56.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,918 shares of the company's stock valued at $80,000 after purchasing an additional 1,051 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Perimeter Solutions by 1,512.7% in the 1st quarter. Assetmark Inc. now owns 4,064 shares of the company's stock valued at $99,000 after purchasing an additional 3,812 shares during the last quarter. Finally, Dagco Inc. acquired a new position in shares of Perimeter Solutions in the 1st quarter valued at $99,000. Hedge funds and other institutional investors own 89.93% of the company's stock.

Perimeter Solutions Company Profile

Perimeter Solutions, Inc NYSE: PRM is a global manufacturer of fire safety products and specialty chemicals. The company serves government agencies, industrial customers and other commercial markets through two primary business areas: fire safety and specialty chemicals.

Its fire safety portfolio includes PHOS-CHEK wildland fire retardants and fire suppression products, as well as SOLBERG firefighting foams used in applications such as airports, industrial facilities, marine operations and other high-risk environments.

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