Perimeter Solutions (NYSE:PRM) Earns Hold (C-) Rating from Weiss Ratings

Key Points

• Perimeter Solutions (NYSE: PRM) has received a "hold (C-)" rating from Weiss Ratings, indicating a cautious outlook on the stock's performance.
• Analyst ratings show mixed signals with Morgan Stanley upgrading their price target to $25.00 and assigning an "overweight" rating, while Wall Street Zen downgraded the stock to a "hold" rating.
• Insider transactions reveal that key executives, including Director Vivek Raj, have sold significant shares recently, with a total of 365,000 shares sold in the last quarter.

Perimeter Solutions (NYSE:PRM - Get Free Report)'s stock had its "hold (c-)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

PRM has been the subject of several other reports. Morgan Stanley increased their price objective on shares of Perimeter Solutions from $17.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Wall Street Zen lowered shares of Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, UBS Group raised their price target on shares of Perimeter Solutions from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Perimeter Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Perimeter Solutions Price Performance

Shares of NYSE:PRM opened at $22.30 on Wednesday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 51.86 and a beta of 1.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.04 and a quick ratio of 2.60. The firm has a 50 day simple moving average of $20.55 and a 200 day simple moving average of $15.27. Perimeter Solutions has a one year low of $8.76 and a one year high of $23.79.

Perimeter Solutions (NYSE:PRM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Perimeter Solutions had a net margin of 13.05% and a negative return on equity of 1.11%. The business had revenue of $162.64 million during the quarter, compared to the consensus estimate of $108.91 million. Research analysts predict that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In related news, Director Vivek Raj sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $22.45, for a total transaction of $561,250.00. Following the completion of the transaction, the director owned 121,701 shares of the company's stock, valued at approximately $2,732,187.45. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Sable sold 40,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $22.05, for a total transaction of $882,000.00. The disclosure for this sale can be found here. Insiders sold 365,000 shares of company stock worth $8,127,250 over the last quarter. Corporate insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Perimeter Solutions by 16.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,577 shares of the company's stock worth $80,000 after buying an additional 504 shares in the last quarter. Templeton & Phillips Capital Management LLC increased its stake in shares of Perimeter Solutions by 0.5% in the second quarter. Templeton & Phillips Capital Management LLC now owns 189,919 shares of the company's stock worth $2,644,000 after buying an additional 920 shares during the period. Comerica Bank increased its stake in shares of Perimeter Solutions by 45.0% in the first 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. Cullen Frost Bankers Inc. increased its position in Perimeter Solutions by 161.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,124 shares of the company's stock valued at $43,000 after purchasing an additional 1,928 shares during the period. Finally, Swiss National Bank increased its position in Perimeter Solutions by 0.9% during the 2nd quarter. Swiss National Bank now owns 271,700 shares of the company's stock valued at $3,782,000 after purchasing an additional 2,400 shares during the period. Hedge funds and other institutional investors own 89.93% of the company's stock.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.

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