UBS Group Forecasts Strong Price Appreciation for Perimeter Solutions (NYSE:PRM) Stock

Perimeter Solutions (NYSE:PRM - Free Report) had its price objective raised by UBS Group from $15.00 to $20.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on PRM. Morgan Stanley lowered their target price on Perimeter Solutions from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wall Street Zen cut Perimeter Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Perimeter Solutions Stock Down 0.5%

Shares of PRM stock traded down $0.08 on Wednesday, hitting $16.22. The stock had a trading volume of 923,496 shares, compared to its average volume of 1,007,261. Perimeter Solutions has a one year low of $7.83 and a one year high of $16.33. The business has a 50 day moving average price of $13.02 and a 200 day moving average price of $11.71. The company has a market cap of $2.40 billion, a PE ratio of 20.53 and a beta of 1.95. The company has a quick ratio of 3.56, a current ratio of 5.23 and a debt-to-equity ratio of 0.55.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.12. Perimeter Solutions had a net margin of 23.23% and a negative return on equity of 4.33%. The business had revenue of $72.03 million during the quarter, compared to analyst estimates of $75.00 million. Research analysts anticipate that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Vivek Raj sold 100,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the completion of the transaction, the director owned 168,942 shares in the company, valued at $1,990,136.76. The trade was a 37.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Windacre Partnership Master Fu bought 254,600 shares of the stock in a transaction on Friday, June 27th. The stock was purchased at an average price of $13.98 per share, with a total value of $3,559,308.00. Following the completion of the purchase, the insider owned 21,854,600 shares of the company's stock, valued at $305,527,308. This represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 303,094 shares of company stock worth $3,587,021. Insiders own 10.00% of the company's stock.

Institutional Trading of Perimeter Solutions

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in Perimeter Solutions by 2.0% in the first quarter. Principal Financial Group Inc. now owns 10,912,291 shares of the company's stock valued at $109,887,000 after buying an additional 218,002 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Perimeter Solutions by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,358,929 shares of the company's stock valued at $84,174,000 after acquiring an additional 147,336 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Perimeter Solutions by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock valued at $74,847,000 after purchasing an additional 971,623 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in Perimeter Solutions in the 4th quarter worth approximately $41,780,000. Finally, Dimensional Fund Advisors LP grew its position in Perimeter Solutions by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,113,380 shares of the company's stock worth $39,789,000 after purchasing an additional 579,987 shares during the last quarter. Institutional investors and hedge funds 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.