UBS Group Increases Perimeter Solutions (NYSE:PRM) Price Target to $20.00

Perimeter Solutions (NYSE:PRM - Free Report) had its target price increased by UBS Group from $15.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

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

Perimeter Solutions Trading Up 4.1%

Shares of PRM stock traded up $0.62 on Wednesday, reaching $15.90. 1,283,344 shares of the stock were exchanged, compared to its average volume of 1,002,100. The stock has a market cap of $2.35 billion, a P/E ratio of 20.13 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. The firm has a 50 day moving average of $12.78 and a two-hundred day moving average of $11.67. Perimeter Solutions has a 1-year low of $7.63 and a 1-year high of $15.96.

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

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 100,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.78, for a total transaction of $1,178,000.00. Following the transaction, the director directly owned 168,942 shares in the company, valued at $1,990,136.76. This trade represents a 37.18% 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, major shareholder Windacre Partnership Master Fu acquired 254,600 shares of Perimeter Solutions stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average price of $13.98 per share, for a total transaction of $3,559,308.00. Following the completion of the purchase, the insider directly owned 21,854,600 shares of the company's stock, valued at $305,527,308. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 303,094 shares of company stock valued at $3,587,021. Company insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently added to or reduced their stakes in PRM. Vanguard Group Inc. increased its position in Perimeter Solutions by 136.8% in the fourth quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock worth $104,944,000 after buying an additional 4,744,069 shares during the period. Corient Private Wealth LLC acquired a new stake in Perimeter Solutions in the fourth quarter worth $41,780,000. Pacer Advisors Inc. acquired a new stake in Perimeter Solutions in the first quarter worth $13,743,000. JPMorgan Chase & Co. increased its position in Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock worth $74,847,000 after buying an additional 971,623 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Perimeter Solutions by 10,103.3% during the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company's stock valued at $11,806,000 after purchasing an additional 914,757 shares during the period. 89.93% of the stock is currently owned by institutional investors.

Perimeter Solutions Company Profile

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.